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Results Chart for Delivery Method and Financing
From Private Capital Markets Directly to Producers as Debt: The private sector financing for the project is comprised of senior debt, subordinated debt and equity. Senior debt is comprised of a capitalizing construction facility, which converts to a term loan on the date of commercial acceptance, with a combined loan term of 5 years at financial close. The subordinated debt is a subordinated loan facility agreement for an initial term of 5 years. Plenary Research has arranged for the involvement of a number of financiers to cover the capital costs for the construction of the BRC and other related costs. These financiers include the National Australia Bank, Westpac and Commonwealth Bank of Australia in a “club” arrangement, and the Bank of Tokyo-Mitsubishi UFJ Limited.
From Producers as Equity: Equity is provided by the Plenary Group and supported by a letter of credit. Additionally, the concessionaire is allowed two scheduled refinancing’s in the first ten years of the contract term. Both the contractor and the State share gains or losses arising from changing financing margins.