PortlandPortland

By Nick Flitterman

Portland Wins PFI Award

Portland Wins PFI Award

The $4.6 billion debt financing for the Coral South FLNG project, where Portland acted as ECA Advisor to the export credit agencies, has been awarded “2017 Middle East & Africa Oil & Gas Deal of the Year” by Project Finance International.

Portland advised Bank of China, China Development Bank, China Eximbank, ICBC, KEXIM, KSURE, SACE and BPI (COFACE).

To discuss this further, contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com

 

By Nick Flitterman

Yamal LNG Commissioned

Yamal LNG Commissioned

The sponsors of the Yamal LNG project in Russia announced the commissioning of the first LNG train ahead of time. The first LNG cargo has been loaded and is in transit to Europe.

Portland advised China Development Bank (CDB), China Eximbank (CEXIM), SACE, BPI (COFACE), JBIC, EXIAR, Euler Hermes and EKN on the US$19 billion limited-recourse debt financing which closed in 2016.

To discuss this further, contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com

or Harry Philp on +44 20 7183 8392 or harry.philp@portlandadvisers.com

By Nick Flitterman

Coral South FLNG Closes

Coral South FLNG Closes

Financial close on the landmark $4.6 billion debt financing for the Coral South FLN project reached financial close yesterday.

Portland acted as ECA Advisor to Bank of China, China Eximbank, ICBC, KEXIM, KSURE, SACE and BPI (COFACE).

The project is an gas production and liquefaction development based on a floating LNG vessel offshore Mozambique. Project sponsors are Eni, CNPC, Kogas, GALP and ENH.

The project comprises the development of an offshore gas field connected to a floating gas processing, LNG liquefaction, storage and offloading vessel located above the field with a capacity of 3.5 million tonnes per annum.

To discuss this further, contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com

or James Benbow on +44 20 7183 8389 or james.benbow@portlandadvisers.com

By Nick Flitterman

Yamal LNG Signs Final Loan agreements

Yamal LNG Signs Final Loan agreements

Today,  Yamal LNG signed 15 year loan agreements with the Euler Hermes and EKN for amounts of  €200 million and €225 million respectively.

Portland advised Euler Hermes and EKN in relation to this financing. The financing is the final piece of the overall $19 billion financing for the Yamal LNG project which also comprises facilities from Chinese and Russian lenders and loans supported by SACE, COFACE and JBIC.

Portland also advised China Development Bank, China Eximbank, EXIAR (the Russian export credit agency), SACE, COFACE and JBIC in relation to this ground-breaking financing.

For further information, contact Geoff Knox on geoff.knox@portlandadvisers.com

By Nick Flitterman

Portland Supports Dolma Himalayan Climate Fund

Portland Supports Dolma Himalayan Climate Fund

Portland has been retained to assist Dolma Himalayan Climate Fund (DHCF) with respect to financial modelling of solar and hydro-electric power plants.

Supported by the Department for International Development (DFID), part of the UK government, DHCF has been structured to attract funding from institutional investors for the development of renewable energy projects in Nepal and other Himalayan geographies.

To discuss this further, contact Geoff Knox on geoff.knox@portlandadvisers.com

By Nick Flitterman

Portland Wins PFI Award

Portland Wins PFI Award

The $1.4 billion financing for the Offshore Cape Three Points project, where Portland acted as Financial Advisor to UK Export Finance, has been awarded “2016 African Oil & Gas Deal of the Year” by Project Finance International. The picture shows the UKEF and Portland team at the Awards Dinner at which the award was presented.


From left to right: Oliver Irwin (Milbank), Iain Hackston, Margaret Eyres (UKEF), Joe Shephard (UKEF), Keith O’Donnell, Frauke Bialokoz, Tim Loy (UKEF), David Craig (UKEF), Geoff Knox and Richard Simon-Lewis (UKEF).

By Nick Flitterman

Portland Ranked Top Financial Advisor in 2016

Portland Top of the Charts

The league tables are out, and Portland Advisers has been confirmed by Infrastructure Journal as no.1 Financial Advisor by value in 2016 following a very successful year. This follows the closure of transactions such as Yamal LNG and OCTP, and confirms Portland’s well established position as a leading Financial Advisor in the key infrastructure sectors globally.

Further information can be found by clicking here.

 

 

 

By Nick Flitterman

Offshore Cape Three Points (OCTP) Closes

Offshore Cape Three Points (OCTP) Closes

Loan signing on the $1.35 billion limited-recourse debt financing for Vitol’s working interest in the Offshore Cape Three Points/Sankofa oil and gas project in Ghana, West Africa took place today.

The financing has a hybrid structure combining Reserve Based Lending (RBL) and Project Finance features. Debt facilities were provided by UK Export Finance (UKEF), IFC and a syndicate of commercial banks.

Portland advised UKEF throughout the negotiation and documentation of this transaction.

To discuss this further, contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com or Frauke Bialokoz on +44 20 7183 8386 or frauke.bialokoz@portlandadvisers.com

By Nick Flitterman

Yamal LNG signs €200 million JBIC deal

On 15 December 2016 Yamal LNG signed a 15 year loan agreement with the Japanese Bank for International Cooperation (JBIC). Portland advised JBIC in relation to this financing. The financing is the final piece of the overall $19 billion financing for the Yamal LNG project which also comprises facilities from Chinese and Russian lenders and loans supported by SACE and COFACE. Portland advised China Development Bank, China Eximbank, EXIAR (the Russian export credit agency), SACE, COFACE and JBIC in relation to this ground-breaking financing.

For further information contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com

 

1 2
Portland Wins PFI Award
Yamal LNG Commissioned
Yamal LNG Signs Final Loan agreements
Portland Ranked Top Financial Advisor in 2016