Infralogic Investors Forum Europe 2023
The European edition of our Investors Forum returns this October!
etc.venues County Hall, London
11
Oct
Financing infrastructure amid rising interest rates
Infrastructure borrowers are being squeezed by rising interest rates and questions are emerging on the relative value of infrastructure debt for institutional investors. How is the face of infrastructure finance changing in the new high-inflation, high-rates environment?
- What are the challenges for borrowers seeking to refinance infrastructure assets as interest rates soar? Is the time over for debt-funded dividend recaps?
- Are conditions tightening for infrastructure funds seeking to raise acquisition finance?
- Is the appeal of senior infrastructure debt waning for institutional investors as government bond yields return to rise? Is this squeezing asset managers seeking to raise new senior debt funds? Are junior debt funds gaining new traction?
- Are banks benefiting in the current environment, as traditional floating rate lenders? Are they gaining a competitive advantage compared to institutional investors?
- Is debt becoming less attractive in competitive markets such as regulated utilities and operational renewables, where equity returns are compressed closer to debt costs?
- How is the pipeline for infrastructure financiers shifting? Is the market for fibre and towers debt drying up? Is transport including airports and roads returning to the fore?
- How bankable are new energy transition deals, such as batteries, EV charging and hydrogen?
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SpeakersPhillip Hyman Managing Director DC Advisory
David Cooper Regional Head of EMEA and Australia IFM INVESTORS
Tim Floyd Executive Director Westbourne Capital
Nick Woolfitt Head of Specialised Finance Europe, Corporate & Institutional Banking National Australia Bank Limited
Bertrand Loubieres Head of Infrastructure Finance AXA Investment Managers
Laura Ho Partner Ashurst
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Phillip is part of the DC Advisory infrastructure team based in London, with close to 15 years’ investment banking experience.
Phillip helps lead the infrastructure debt advisory business within the broader M&A and debt sector team. He works across complex refinancings, inaugural debt financing platform implementations and acquisition financings; working with issuers, debt investors and bank lenders with whom he has a very strong working relationship.
Prior to joining DC, Phillip worked in the financing teams at both Royal Bank of Scotland and HSBC.
David has more than 20 years’ experience in banking focussed on project finance, infrastructure debt and structured credit. David joined IFM from Barclays, where he was Head of Infrastructure and Structured Project Finance within their Corporate Bank. Prior to this, David was in the origination team of HBOS Infrastructure Finance, where he had responsibility for sourcing and executing senior debt, mezzanine and equity across the social infrastructure, transportation and energy sectors
Tim Floyd is Executive Director and head of the London office at Westbourne Capital, an independent investment manager focused exclusively on the infrastructure debt asset class. Since 2010, Westbourne has completed more than US$10 billion of sub-investment grade and investment grade financings across Europe, North America, Asia and Australia.
Tim joined Westbourne in 2013 and has expanded the firm’s investment footprint in the region across a range of sectors including utility networks and services, renewables, toll roads, ports, digital and social infrastructure.
Prior to joining Westbourne, Tim held roles at DWS, Hastings Funds Management and Dresdner Kleinwort Wasserstein, and has over 15 years experience as an infrastructure investment fiduciary.
Tim holds a Master of Science in Accounting and Finance from London School of Economics and a Bachelor of Arts from the University of Puget Sound.
Nick Woolfitt leads National Australia Bank’s Specialised Finance team in Europe, with a particular focus on energy, utility and infrastructure finance. He joined National Australia Bank in 2011, having previously worked at another Australian bank. An infrastructure finance specialist with over 20 years’ experience, Nick has led many major acquisition and refinancing transactions in the transport, renewable energy, utility, digital infrastructure, mining and commodities sectors. Geographically he has worked on transactions across much of Europe as well as in the USA, Canada, Australia, New Zealand and the Pacific Islands. Nick holds a Bachelor of Laws and a Bachelor of Commerce from the University of Western Australia, and a Master of Laws from the University of Melbourne.
Profile to follow shortly.
Laura's principal areas of expertise span across leveraged and infrastructure finance, advising a range of financial institutions and funds, private equity sponsors and corporate groups on cross-border and local transactions.