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Latest North America Analysis

  • Brooklyn Navy Yard cogen refi, US

    Axium Infrastructure completed the refinancing of the Brooklyn Navy Yard 286MW gas and oil-fired cogeneration facility in New York on 14 February using hybrid financing comprising tax-exempt bonds, taxable notes, and funds held under accounts created by the 1997 tax-exempt indenture

  • The great North American job hunt

    Few things set tongues wagging faster in the infrastructure community than recruitment trends, bonuses and salaries. While most folk like to benchmark careers against their peer group – frequently sucking the wind out of many a sail – everyone wants to know who is going where

  • Trillium Line Extension P3, Canada

    The Trillium Line Extension DBFM project in Ottawa reached financial close in April with SNC-Lavalin – through its wholly-owned subsidiary TransitNEXT – selected to build the project. This was despite grumblings from competing teams that it failed to meet the minimum technical score of 70% set out in public documents provided by city officials

  • MUFG Bank – Global MLA of the Year

    IJGlobal awards have long held a special position in the industry, given that they are independently judged by teams of infrastructure and energy specialists in New York, London, Dubai and Singapore – giving them unrivalled authority and the cachet of peer review

  • Allen & Overy – Global Legal Adviser of the Year

    Choosing a winner for infrastructure and energy legal advisory on a global scale is a challenging feat, made infinitely more simple by aggregating scores from all four of IJGlobal’s independent judging teams – in London, New York, Dubai and Singapore

  • SMBC – Global Financial Adviser of the Year

    The 2018 calendar year proved to be a busy one for the SMBC financial advisory team with strong performance around the globe, winning it the IJGlobal Global Financial Adviser of the Year award that was presented at the Singapore event

  • Macquarie Capital – Sponsor of the Year

    When it comes to sponsors on the international infrastructure scene, few hold a candle to Macquarie Capital as it drives major transactions around the globe – according to IJGlobal’s independent panel of judges

  • Funding US wells, not walls

    The first couple of months of 2019 saw substantial deals for the oil and gas industry in North America

  • Tłı̨chǫ All-Season Road P3, Canada

    The Tłı̨chǫ All-Season Road P3 project reached financial close in February. Despite being procured as a P3 with the typical DBFOM model, there are no banks involved, the private developers are providing a small percentage of the equity and a large chunk of the financing is being provided by the government

  • Ørsted's sale of 50% stake in Deepwater Wind

    Earlier this month Ørsted and Eversource agreed to collaborate on US Atlantic Coast offshore wind projects in a deal worth about $225 million for the second time

  • Charged with uncertainty - EV charging infra

    Various public and private led funds are being raised in early 2019 targeting electric vehicle charging infrastructure. Private investors are battling with oil majors and energy utilities for dominance of this nascent market, as appropriate financing structures remain up for debate

  • Canada's energy diversification in 2019

    Canada updated its coal-fired electricity regulations in December (2018), introducing much stricter measures. The country is now targeting 90% of electricity from non-emitting sources by 2030, and decreasing carbon pollution from the electricity sector by 12.8 million tonnes.

  • Michigan’s I-75 road, US

    Michigan closed on its second P3 deal in November 2018, and the project had a financing structure unique to the US market – private activity bonds. It had an accelerated timeline, going from preferred bidder to financial close in just under three months with four local civil contractors on board having achieved investment grade ratings from Moody’s and Kroll

  • Royal Inland Hospital, British Columbia

    The recent financing of the Royal Inland Hospital Patient Care Tower project featured the first internationally accredited green bond in the Canadian P3 market

  • US airports – hashtag flying too

    Everyone has an airport horror story and – curiously – many of them occur in America. For a First World nation that embraced flight early as the favoured mode of transport, it remains a curiosity that the user experience is so… Third World

  • The Caribbean – welcome to PPParadise

    Many people find it hard to look beyond sun-drenched beaches and cocktails when it comes to the Caribbean. But with 28 countries and a combined population of 42.5 million, there’s a strong argument for rebranding it “the land of sun, sea and PPP”… if it can follow the example of Jamaica

  • Howard County Courthouse P3 – Maryland, US

    It is almost unheard of in the US for a P3 project to go from procurement to financial close in just under a year. However, this is exactly what happened with the $150 million Howard County Circuit Courthouse P3 in Maryland, which reached financial close in October, setting a precedent for how infrastructure projects should be procured in North America

  • US and China – first responders

    The US Senate on 3 October passed the Better Utilization of Investments Leading to Development Act. It aims to facilitate the investment of $60 billion in developing countries through a newly formed development finance agency – the US International Development Finance Corporation

  • FAA bill revision – a game changer for US airports?

    The airports sector in the US has both fascinated and frustrated the private sector given the huge potential for investment. But in the last month, the Federal Aviation Administration’s reauthorization bill has made important revisions – including removing the cap on the number airports that can be leased and allowing the public sector to retain a stake in a potential project

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