Advisory Archives

Feb, 2017

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).

Advisory, Africa, award, bialokoz, Energy, hackston, knox, Milbank, OCTP, odonnell, PFI, portland, Project Finance, UKEF

Mar, 2013

By Nick Flitterman

US Ex-Im Bank board approves Indian Solar PV project

US Ex-Im Bank has announced that its Board of Directors has approved an export finance loan of US$ 9 million as part of the debt financing for a 11.6 MW solar PV project in Rajasthan, India sponsored by KSK Energy Ventures, an Indian power developer. Debt is being co-financed by IDBI Bank Ltd. Portland Advisers is acting as financial adviser to US Ex-Im Bank.

The solar panels for the project have been procured from Miasolé, a pioneer in the development of copper indium gallium selenide (CIGS) thin-film PV solar panels which are among the highest-efficiency and lowest-cost solar panels.

Click here for the official press release from US Ex-Im Bank.

For further information contact geoff.knox@portlandadvisers.com

Advisory, ECA, Energy, IDBI, KSK, Renewables

Jul, 2012

By Nick Flitterman

Russian’s seek Portland views on financing football clubs

Recognising Portland’s leadership in advising on the financing of new stadia and football clubs, The Moscow News recently sought the views of Portland’s Head of Stadium Finance, Harry Philp, on the situation in Russia compared to its European counterparts. The article can be found by clicking on this link.

Other articles on Portland work on Stadium Finance can be found here.

For further information on Stadium Financing or related advice, contact Harry at harry.philp@portlandadvisers.com

Advisory, football, Philp, Stadium

Nov, 2011

By Nick Flitterman

O3b Closes New $137m financing

On 31st October 2011, O3b Networks, advised by Portland Advisers and HSBC, achieved Financial Close on a $137m incremental financing round for the construction of four additional satellites that will boost both capacity and redundancy its MEO satellite constellation.

Nick Flitterman, Portland’s Head of Telecoms and lead advisor to O3b said: “This is another great achievement for O3b and a testament to the strong support of its core investors and lenders for the company’s plan to bring high speed internet connectivity to those Other Three Billion people around the world. Despite continuing difficulties in the financial markets, and increasing pressures on US Dollar liquidity, we have succeeded in structuring the financing in a way that benefits all stakeholders and enables O3b to almost double its capacity over the emerging markets – a win-win for its investors, lenders and customers.”

The additional financing comprises an US$85m Coface-backed Senior Debt Facility provided by HSBC, ING, CA-CIB and Dexia and an additional $52m of equity provided by a group of the existing shareholders and a new investor, Luxempart.

O3b’s shareholders include leading satellite operator SES, Google, the global cable operator Liberty Global, HSBC Principal Investments, the Development Bank of South Africa, Sofina and Satya Capital, with SES now the largest minority shareholder.

For more information on this transaction, or on related topics, please contact Nick directly on nick.flitterman@portlandadvisers.com or +44 20 71 83 83 85. Also see the Case Study describing the role Portland Advisers.

Press coverage of the financing can be find by clicking on the links below.

www.o3bnetworks.com

https://www.sys-con.com/node/2058566

Advisory, Africa, COFACE, ECA, O3b, satellite, Telecom

Oct, 2011

By Nick Flitterman

Tottenham Hotspur F.C. win their challenge on the Olympic Stadium

Tottenham Hotspur F.C. (“Tottenham”) successfully won their Judicial Review challenging the financial support being provided by the London Borough of Newham (“LBoN”) to West Ham United F.C. (“West Ham”) in their attempt to secure tenancy of the new Olympic Stadium post the games in 2012. Tottenham successfully argued that the financial support being provided by LBoN was not commercially attainable and was significantly favouring West Ham in its bid to secure the stadium. Following the Judicial Review, LBoN withdrew its financial support for West Ham and the Olympic Park Legacy Committee announced that it would reopen the tender process for the rights to the future tenancy of the stadium

Portland Advisers prepared the Expert Witness statement on behalf of Tottenham which was key element of the Tottenham case.

For further information, contact harry.philp@portlandadvisers.com

Advisory, Philp, Stadium, Tottenham, West Ham

Sep, 2011

By Nick Flitterman

Portland wins Green Africa Power advisory mandate with PIDG Trust

Portland Advisers, as part of the Trinity Consortium also including Trinity International LLP, a law firm with a specialised focus on Africa, and Evolution Markets, a carbon broker and transaction structuring firm, has won the advisory mandate to progress the development of PIDG’s Green Africa Power (“GAP”) initiative. Each of the three members of the consortium brings together directly relevant experience in relation to the GAP concept and in developing a comprehensive business model for GAP respectively.

GAP’s overriding purpose is to facilitate the development of renewable power generation capacity on a broad scale in sub-Saharan Africa, one of the most power starved regions in the world, and, in doing so, providing a platform for further socio-economic development. Using funds from donor nations, GAP intends to apply a variety of support instruments that are being designed to directly address the typical weaknesses and restrictions that cause projects in these regions to stall before financial close.

For further information please contact either Klaus Frietsch (klaus.frietsch@portlandadvisers.com / 020 7183 8394) or Darryck Luiz (darryck.luiz@portlandadvisers.com / 020 7183 8391).

Advisory, Africa, Energy, GAP, Mandate, Renewables