Infrastructure, Utilities & Renewables

Infrastructure & Utilities

 

Industry overview

Macquarie Capital is a global specialist in infrastructure and has been at the forefront of infrastructure finance for over a decade. Macquarie Capital's Infrastructure team continues to deliver outstanding results for our clients by bringing together a wealth of execution experience and specialist industry knowledge.

The team is committed to meeting our clients' needs. We make a substantial investment in building specialist industry knowledge within the team and we have established extensive relationships with government, regulatory bodies and industry groups, enabling us to facilitate clear communication with public agencies on behalf of our clients.

Macquarie Capital identified early the potential of infrastructure in harnessing private investment to help meet global infrastructure needs. Over a decade of experience has helped Macquarie become a global leader in infrastructure acquisition, funding and management.

With a large team of specialists across North America, Europe, Asia, Australasia, Africa and the Middle East, Macquarie manages more than $A90 billion* of infrastructure assets as at 31 March 2010. Our portfolio of approximately 89^ assets in 19^ countries includes water utilities, electricity and gas transmission and distribution networks, toll roads, airports and social infrastructure.

In 2010, Macquarie Capital was awarded Global Adviser of the Year by Project Finance International Magazine

The team has been involved in some of the most significant transactions in the infrastructure sector globally:

  • Asia-Pacific and Global PPP Deal of the Year by PFI and Infrastructure Journal respectively
  • Water Deal of the Year (Asia-Pacific) by Project Finance Magazine
  • Infrastructure and Project Finance Deal (Asia) by FT Banker awards for the Victorian Desalination Plant project
  • P3 Deal of the Year by PFI and PPP Deal of the Year (North America) by Project Finance Magazine for the Port of Miami Tunnel
  • Power Deal of the Year by PFI and Project Finance Magazine for the Senoko Power refinancing.

In 2009, Macquarie was also ranked No.1 globally for total value of PFI/PPP transactions and No.1 for the total value of Australian project finance transactions (Dealogic).

 

*Based on proportionate enterprise value, calculated as proportionate net debt and equity value at most recent valuation date, 30 June 2009, for the majority of assets.
^Infrastructure assets as at 30 September 2009.

Key transactions

Recent transactions from around the globe:

Year Description Transaction value
2010 Sponsor, adviser and debt and equity arranger to SA Health Partnership, a consortium comprising Leighton Contractors, Hansen Yuncken, Spotless and Macquarie Capital, selected as preferred proponent for the New Royal Adelaide Hospital PPP in Adelaide, Australia Undisclosed
2010 Adviser and debt arranger to Queensland Port Holdings on the acquisition of Port of Brisbane, Australia $A2.3bn
2010 Adviser, debt and equity arranger and swap provider for Sydney Airport for the refinancing of existing debt facilities and raising of additional facilities $A2.25bn
2010 Adviser and debt arranger for the refinancing of Loy Yang A power station in Victoria, Australia $A490m
2010 Lead bookrunner on the follow on offering for Broadwind Energy a provider of services to the wind industry, United States $US99.2m
2009 Adviser to IDEAL on its acquisition of Proyecto Pacifico Norte in Mexico which includes on existing and two new (to be constructed) roads $MXN8.9bn
2009 Adviser and debt arranger to IDEAL on the FARAC 2A toll road project in Mexico $MXN8.9bn
2009 Adviser and debt arranger to Lion Power on the senior debt refinancing of Senoko Power, the largest power generation company in Singapore $S2.35bn
2009 Adviser and debt arranger to Meridiam Infrastructure and Bouygues on the Port of Miami Tunnel PPP $US803m
2009 Adviser, equity and debt arranger to AGL on the sale of its 132MW North Brown Hill wind farm in South Australia $A460m
2009 Sponsor, adviser and debt and equity underwriter to AquaSure, a consortium led by Thiess and Degremont/Suez Environnement, for a design-build-operate contract for the 150GL desalination plant in Victoria, Australia $A4.9bn
2009 Adviser to Bakwena on the refinancing of South Africa's Bakwena Platinum Corridor Concessionaire ZAR3.55bn
2009 Adviser and debt arranger to Autoroutes Paris-Rhin-Rhone on a five-year bond issue €500m
2009 Adviser and debt arranger to Copenhagen Airports on the refinancing of existing bank credit facilities and raising of additional capital expenditure and working capital facilities DKK2.6bn
2009 Adviser and debt arranger to ACS Infrastructure Development on its bid for a 35-year PPP including design-build-finance-operate-maintain improvements to the Interstate 595 highway in Florida $US1.7bn
2009 Adviser, sponsor, debt arranger and underwriter to a Macquarie Infrastructure Partners-led consortium on the acquisition of Puget Sound Energy, Washington State's largest regulated energy utility $US7.4bn
2009 Adviser, debt and equity arranger and swap provider on the refinancing of Sydney Airport's existing debt facilities and raising of additional capital expenditure facilities $A2.25bn
2009 Adviser to Macquarie Infrastructure Group on the sale of its 50 per cent interest in Westlink Motorway Group to Western Sydney Roads Group $A805m
2009 Adviser to Macquarie Infrastructure Company on the restructuring of existing debt facilities in relation to Atlantic Aviation $US923m
2008 Defence adviser to Origin Energy on the hostile off-market takeover bid from BG Group $A16.6bn
2008 Adviser to Origin Energy on the establishment of a joint venture with ConocoPhillips for 50 per cent of Origin's coal seam gas assets $A10.8bn
2008 Adviser and debt arranger to the Lion Power consortium on its acquisition of Senoko Power, the largest power generation company in Singapore $S5.14bn
2008 Adviser to BAA on the refinancing of its acquisition debt facilities and partial repayment of sub debt facilities £15.5bn
2008 Adviser and equity underwriter on the Hong Kong IPO of China Railway Construction Corporation, China's largest construction contractor $HK20bn

 

Contact us 

 

David Roseman
Global Head of the Infrastructure, Utilities & Renewables team