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Results Chart for Delivery Method and Financing
From Private Capital Markets Directly to Producers as Debt: The PPP concessionaire has arranged for the involvement of a number of financiers to raise funds to cover the costs of the project. The majority of the funding will be raised from the issue of bonds into the capital market. Proceeds will be placed in a deposit account managed by the concessionaire until required. Senior debt (71% of funding sources) is comprised of underwritten CPI Indexed Annuity bonds and subordinated debt (3.8% of funding sources) is an underwritten inflation linked indexed annuity.
From Producers as Equity: Babcock and Brown International Pty Ltd is the private party underwriting the equity requirement for the concessionaire. Preferred equity (16.3% of funding sources) is expected to be refinanced 13 years from financial close. Ordinary equity comprises 4.3% of the funding source.