Morgan Stanley Infrastructure’s recent refinancing of the Red Oak power plant took the asset out of the bond market and into the bank market via a ‘hedge toggle’ structure. Twenty years on from Red Oak’s first financing, the US is still searching for workable power market structures. Could the ‘toggle’ help US power sponsors live with market uncertainty?
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The pause on permitting for some US LNG projects is causing a political stink. But beyond the screams from the fossil fuel lobbyists, what immediate impact on the US LNG project market does it actually have?
It’s still positive, and the benefits of the changes in the OECD Arrangement are already showing, says Angela Perez, head of structured finance at Spanish infrastructure and engineering company, Elecnor. She highlights the amount of patience still needed by EPC companies to get deals completed though.
With the recent release of TXF Intelligence’s export finance lender league tables, get the breakdown on the most active ECAs in the market. Read on to find out the biggest sectors and regions for every ECA after a record-breaking year.