INDIA GOES GREEN : BNL AND BNP PARIBAS SUPPORT - MAURIZIO ACCINNI RIMINI 6 NOVEMBRE , 2015
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INDIA GOES GREEN :
BNL AND BNP PARIBAS SUPPORT
MAURIZIO ACCINNI
INTERNATIONAL DEVELOPMENT MANAGER
RIMINI 6 NOVEMBRE , 2015
DIVISIONE CORPORATE
Agenda BNL BNP PARIBAS INDIA POWER SECTOR AND BNP PARIBAS CAPABILITIES
BNL BNP PARIBAS
Solidi, dinamici, internazionali, italiani
UNA BANCA SOLIDA SU CUI CONTARE
La solidità patrimoniale ci permette di essere al vertice tra i nostri competitor in termini di rating (Standard & Poor's
A+): una garanzia per la continuità della relazione finanziaria.
Una favorevole situazione di liquidità consente di sostenere in modo costante l’economia del paese e lo sviluppo
strategico dei nostri clienti.
UNA BANCA DINAMICA
Una strategia commerciale basata sulla diversificazione dell'offerta: una tra le più complete sul mercato, per
l’operatività corrente e straordinaria. Una capacità di seguire l’evolvere delle esigenze aziendali innovando prodotti
e servizi. Oggi e domani, partner, insieme.
BNL GRUPPO BNP PARIBAS. LA FORZA DI UN’IMPRESA INTERNAZIONALE
Tra i dieci gruppi bancari più grandi al mondo; i nostri clienti italiani possono accedere facilmente ad un network
internazionale presente in più di 80 nazioni, in tutti i continenti. In India da 150 anni, 3.000 dipendenti in Cina.
Leader nel Bacino del Mediterraneo e nel Golfo Persico. 90 Trade Center in 55 paesi, di cui 5 in Italia, con esperti
dedicati al commercio internazionale
BNL. UNA REALTÀ ITALIANA
Distribuzione capillare in tutta l’Italia. Oltre 2,5 milioni di clienti privati, oltre 27.000 imprese e 16.000 enti
Legame solido con il tessuto produttivo italiano e con la Pubblica Amministrazione centrale e locale.
4L’attività del gruppo in Italia
5BNL: la banca per i bisogni del cliente
6Il percorso di internazionalizzazione
Sostenere le tue
attività all’estero
Investire
Esportare Capitale e Credito
Esplorare i Trade Center
mercati
Consulenza e strutture
Un modello costruito per stimolare, semplificare e supportare
l’internazionalizzazione dei nostri clienti
7Esplorare i mercati: le strutture
LA RETE BNP PARIBAS
Una forte presenza in Europa…….
UNA “CORSIA PREFERENZIALE” PER ACCEDERE AI NUOVI MERCATI Austria
Belgio
Bulgaria
• 75 paesi e 198.000 collaboratori Danimarca
Francia
Olanda
• Più di 1700 gestori di relazione dedicati alle imprese Germania
Polonia
Ungheria
Portogallo
• Una combinazione «unica» di competenze e soluzioni Irlanda
Romania
per soddisfare le specifiche esigenze del cliente Italia
Russia
Lussemburgo Regno Unito
• Conoscenza qualificata nelle relazioni con il mercato Norvegia
Repubblica ceca
locale Spagna
Svezia
Svizzera
Turchia
….. Asia, Africa, Medio Oriente …..e sul continente americano
Algeria
Tunisia
Marocco
Canada
Senegal
USA
Guinea
Messico*
Burkina Fasi
Colombia*
Mali
Venezuela
Costa d’Avorio
Brasile
Gabon
Perù
Sud Africa
Cile
Turchia
Argentina
Arabia Saudita
Kuwait
Bahrain
Qatar
Emirati Arabi * Ufficio di rappresentanza
8Investire su nuovi mercati
CAPITALE CREDITO RETI DI IMPRESA
Interventi diretti BNL nel capitale Interventi creditizi diretti BNL in favore Le imprese che si uniscono in rete sono più
d’impresa volti a favorire le aziende italiane della case madre italiana o delle competitive e possono ottenere maggiore
che aspirano ad una dimensione sussidiarie estere. attenzione da parte della banca
internazionale del proprio business.
Accesso ai mercati di capitali BNL ha firmato un intesa con Confindustria per
attraverso emissioni obbligazionarie e/o supportare la creazione di Reti premiandole con
Intervento congiunto BNL – SIMEST MINIBONDB forme di credito innovative a loro dedicate.
finalizzato ai progetti di investimento e alle
iniziative di radicamento sul mercati esteri Convenzioni per finanziamenti a breve Prodotto di finanziamento 2X Rete: la
delle imprese italiane. e medio lungo termine con garanzia banca sosterrà i progetti di sviluppo delle reti
SACE per agevolare l’accesso al credito finanziandoli per un importo fino a due volte le
delle PMI italiane che presentano un risorse destinate alla realizzazione delle
fatturato estero non inferire al 10% e che iniziative di rete fino ad un massimo di 3 mln €
vogliono allargare la propria operatività sui
Riduzione dello spread su tali
mercati internazionali
finanziamenti dal 15% al 30% per i migliori
progetti di rete.
Sostegno alle reti per il loro sviluppo
SIMEST, Società Italiana per le Imprese SACE, Servizi Assicurativi del Commercio internazionale con l’appoggio di tutti gli sportelli
all’Estero, promuove i processi di Estero, è la principale agenzia di credito esteri della banca
internazionalizzazione delle imprese italiane e all’esportazione italiana mirata a sostenere
assiste gli imprenditori nelle loro attività gli investimenti all'estero delle imprese
all’estero, partecipando alla realizzazione di italiane, assicurandone le operazioni contro il
investimenti e favorendo gli scambi rischio commerciale e politico.
commerciali.
9Investire su nuovi mercati
CASA MADRE
ITALIANA
CINA TURCHIA INDIA TUNISIA
SUSSIDIARIA CINESE SUSSIDIARIA TURCA SUSSIDIARIA INDIANA SUSSIDIARIA TUNISIA
Una strategia «unica», un «unico» entry point …. verso un mondo di opportunità
With you across Europe and Beyond
10Partnership
“…aumentare e integrare la capacità di offerta di servizi alle imprese
e, tramite le reciproche professionalità e le rispettive reti di contatti
sull’estero, incrementare l’efficacia dei servizi stessi..”
…..perché le grandi imprese si costruiscono insieme!!!!
11India Power Sector and BNP PARIBAS capabilities
India Power Sector – Key Milestones
1991-2003 – Liberalisation Era
Private sector participation in
generation
National Electricity Policy Fast track clearing of proposals
(2006) Rationalisation of tarriffs
Guidelines for bidding
Coal Block Auction
Case-1 and Case-2
bidding for power projects GoI has kick-started
the next phase:
Launch of UMPP scheme 1991-
auction and allotment
(bidding for 4000MW 2003 of 67 coal blocks
power projects) Private Equity completed
2006 Investments in Supreme Court
Renewable energy cancels allocation of
Renewed GOI
Renew Power 214 coal blocks
incentive and push for
Continuum Energy Fresh auction to be
Renewable Energy
Green Infra conducted for the 214
2008- Greenko
coal blocks
2010 Azure Power
Mytrah Energy
2010
IPOs of large thermal 2011 2015
2014
power producers 2011-12 2012
Reliance Power
Adani Power
Indiabulls Power
JSW Energy
Policy support for CAG (comptroller
Renewables accounts general)
Jawaharlal Nehru National Changes in regulations accuses government
Solar Mission (Solar Capacity in Indonesia of inefficient coal
of 20W by 2022; 2019 target Increase in prices of block allocation
of 15GW) imported coal from between 2004-2009
Tax holidays and generation Indonesia
based incentives
13Thermal Power - slow and gradual revival…
… Driven by Ongoing coal block auctions and SEB reform programme
KEY TRENDS
India Power sector is an important contributor to overall growth and GDP
STRUCTURAL
Over the last few years, the thermal power sector has been adversely impacted by: IMBALANCES
Low utilization of power
Supreme Court judgment: Cancellation of coal mining license
plants
Breakdown in Policy issues: Delay in environmental clearance of coal blocks
Reliance on imported coal
Externality: Increase in Indonesian coal royalty and taxes
given relatively low coal
Poor financial health of SEBs resorting to load shedding
linkage from Coal India
INR USD adverse movement with PPA contracts having no fuel pass-through
Insufficient cash flow for
High interest / inflation rate environment resulting in increasing interest costs
interest, principal payments
Recent coal block
update:
Structural imbalances in Sector to be resolved in near-medium term; demand to revive
On Sep 2014, Short Term: Change of PPA contracts adversely impacted by no-fuel pass through; “Modi” government
Supreme Court of India
expected to revive the overall industry creating additional power “demand”; Merchant power tariffs to tighten
cancelled the
allocation of 204 coal Medium Term: Pick-up in captive coal projects; SEB financial health restored leading to increase in power
blocks allocated to the procurement cost; cost of borrowing for infrastructure projects to reduce
private sector between
1990-2010 on the
grounds of corruption
Margin/return recovery is linked with improvement in power offtake and tariffs, domestic coal availability
Post the judgement, situation and lowering of interest rate cycle
GoI has kick-started
the next phase: auction
and allotment of 67
coal blocks completed Source: Brokers’ reports, BNP Paribas views
14Regional demand trends
South and North India faces higher energy deficiency than other parts of India
Power Demand Supply Position FY15 (BU) Peak Demand and Peak Met FY15 (GW)
6,3% 8,3%
1.069 1.031
4,1% 5,2% 155147
2,4%
0,8% 3,6% 2,2% 2,3%
5,1%
317 315 332 312 52 48
286 274 44 43
39 37
133 130 20 19
ER&NE SR WR NR All India ER&NE SR WR NR All India
Requirement Availability Deficit Requirement Availability Deficit
As of March FY15, India had a peak deficit of 8 GW
North India had the highest power deficit of 6.3% across India, while the overall deficit for India was 3.6%
The peak deficiency is worst for North India with deficiency of 8.3%
All India PLFs in FY2015 was 65% - low PLF was primarily due to poor financial health of discoms in India owning
to inability to pay power producers
Though new generation capacities are being added, issues related to low off-take, inadequate fuel availability,
transmission corridor availability and weak financial condition of the discoms continue to persist
15Recent consolidation in Thermal and Hydro Power Sectors
Power generation companies are focused on repairing their balance sheet
Many of the players in India do not have the financial firepower to invest in growth and new assets
Active M&A activity: exit of weaker players, driven by banks around concerns of high leverage
Consolidation is being led by players with strong balance sheet and foreign players
Nov 2014
$680mn
Acquisition of Adani Power Limited acquired Korba West Power Company Limited, the India-based owner and
Korba West Power Company operator of thermal power generation plant, from Avantha Power & Infrastructure Limited
owned by
Korba West is a 600MW power plant and will take the total installed capacity of Adani Power to
11,040MW making it the largest private sector power utility in the country
by The Avantha Group has been under pressure to cut debt raised through private equity firms and
banks for its power business and with this deal has announced its exit from the power business
JSW Energy Limited, acquired Himachal Baspa Power Company Limited from Jaiprakash Power
Nov 2014
$1,571mn Ventures Limited for $1,571mn
Acquisition of
Himachal Baspa Power Company Limited (HBPCL), owns and operates 300 MW Baspa II hydro-
Himachal Baspa Power
owned by electric project and 1,091 MW Karcham Wangtoo hydro project.
Through this acquisition, JSW will become a largest private sector hydro power generator in India
with its installed power generation capacity of increasing to 4,351 MW
by
Jaiprakash Power was cash strapped and had high leverage and this asset sale was inevitable;
Further it required capital to re-bid for coal mines that were de-allocated earlier by the Supreme
Court
Aug 2014
$984mn Adani Power acquired Udupi Power Corporation Limited, a 1,200MW coal fired power plant from
Acquisition of LANCO Infratech Limited, the listed India-based company engaged in the construction of
Udupi Power Corp infrastructure projects, ranging from dams, power projects and industrial structures to highways and
owned by
flyovers, for a consideration of $984m
The acquisition was a strategic fit to Adani’s integrated infrastructure business model and will further
by expand its footprint in Southern India.
The proceeds from the sale was used by Lanco to reduce its debt.
16Strong drivers underpinning Renewable Energy growth outlook in India….
…given challenges in thermal around fuel risk, regulatory overhang and increasing
tariffs
Incentivising capacity addition based on wind, solar and hydro power
Generation based incentive for wind energy projects – wind energy generators
Policy Support eligible for an incentive of INR 0.50/kWh for wind energy fed to the grid (cap of
for Renewable INR 10 mn/MW)
Energy Tax holiday for power projects which start generation by March 31, 2017
Proposed plan to set up country wide green Corridor for Renewable Energy
Lower regulatory overhang
Electricity demand consistently outpaced electricity supply
Power Demand Electricity supply side challenges - Consistent failure to achieve capacity
and supply addition targets laid out in five –year plans
mismatch Pressure of increasing electricity demand – Increasing electrification and
consumption growth have increased electricity demand
Gas and coal supply shortage, increasing cost of imported coal for thermal
power
Renewable Reduced availability of domestic gas led to low plant load factor (57% in
FY2012-13) for gas-fired power plants – as of October 2014, 16,000 MW gas-
Energy Sector No Fuel Risk
fired power capacity stranded due to gas shortage
Increase in imported coal- regulatory changes in major coal exporting countries
such as Indonesia and South Africa have led to increase in imported coal prices
Renewable energy is well positioned to see significant investments and
growth due to the mitigation of coal/gas fuel risk
Increasing power purchase cost of state utilities
Achieving Tariff Higher cost of imported coal and reduced supply of domestic gas have
Parity increased generation cost from imported coal and gas-fired power plants
Generation cost of power from renewable energy has become more
competitive
Increasing fuel cost driving industrial customer tariff
Increasing power purchase cost has led to higher supply costs, forcing
distribution companies to increase retail tariffs
High Cost of
Industrial Power Cross subsidizing domestic and agri customers by increasing industrial
customer tariff has led to industrial customers opting for renewable energy
resources
17Ambitious targets for Renewable Energy
India Government has set target generation capacity of 160GW by 2022
RENEWABLE ENERGY INSTALLED CAPACITY BREAK – UP (MARCH 2014)
Waste to
Energy
Solar Renewable energy growth led by wind
Bagasse 8,4%
0,3% sector which has grown by 24% (FY
Cogeneration
8,4% 2002 – 14)
Biomass
4,3% Strong investor interest for investment
Small Hydro into India – Sembcorp has acquired 60%
12,0% stake in Green Infra for $227mn
Wind
66,6%
Multiple Private-equity backed
Renewable energy companies in India
Total installed capacity31.7GW
GROWTH OF RENEWABLE INSTALLED
CAPACITY SIGNIFICANT POTENTIAL TO ADD CAPACITY
(GW) (GW)
40 12,6% 13,0% 15% 60.000
12,5%
11,4% 48.000
10,4% 50.000
30 9,6%
10%
40.000
20 21,1 30.000
19,1 30.000
17,4 23.000
14,2 5% 21.135
10 10,2 11,8
6,8 20.000 15.000
2,6 4,3 5,1
1,6 2,1 3,8
0 2,4 2,7 3,0 3,3 3,6 0% 10.000 3.804 4.121 2.649
Mar-2009 Mar-2010 Mar-2011 Mar-2012 Mar-2013 Mar-2014
0
Wind Wind Small Hydro Bio Power Solar
Others
Small Hydro Potential (MW) Installed Capacity (MW)
Percentage contribution of total installed capacity
18Wind Sector has experienced phenomenal growth in recent past
The sector has grown at CAGR 23.6% during FY 2002 to FY 2014
Huge potential of wind power yet to be untapped in
various states across India Challenges of the sector
Causes variability in generation
INTERMITTEN Mitigation
T NATURE OF Load dispatch and grid management practices
35.071
Gujarat WIND including day ahead forecasting of loads, likely
3.414
wind power injection and optimal play of hydro
reservoirs
14.493 Procurement of land for development of wind
Andhra Pradesh
753 projects is an obstacle in many states
LAND Mitigation
ACQUISITION
Land laws in each state need to be reviewed to
14.152
Tamil Nadu streamline land procurement for wind turbines
7.276
Mitigation
13.593 Comprehensive study of wind patterns and other
Karnataka
2.409 WIND climatic factors for a period of 2 to 5 years
RESOURCE New technologies and approaches to wind
ASSESSMENT resource assessment such as Lidar, Sodar,
5.961
Maharashtra meso-maps, numerical modelling etc. need to be
4.098 established for selection sites
With increasing turbine sizes, large cranes are
5.050
Rajasthan LOGISTICS & required for erection proposes
2.820
TRANSPORTA Availability of road connectivity in certain hilly regions
TION or far flung regions could pose a challenge to
2.931 logistics and transportation
Madhya Pradesh
439
Developing adequate transmission infrastructure for
0 10.000 20.000 30.000 40.000 evacuation of wind power and keeping pace with
EVACUATION growth of the wind energy sector
ISSUES
Grid system for power to flow from distributed wind
Wind Power Potential (MW) Present Installed Capacity (MW)
power generation to the main grid (220 kV/400 kV
level)
19Recent M&A activity in the Renewables Sector
Oct 2015
ReNew Power Ventures raised $ 265mn in a round led by Abu Dhabi Investment Authority (ADIA),
Equity Value: $200mn one of the two sovereign funds of the UAE
Minority stake in
ADIA invested $ 200mn to pick up a significant minority stake, while the rest came from existing
investors Goldman Sachs ($ 50mn) and Global Environment Fund ($ 15mn)
Acquired by Goldman Sachs continues to be the lead investor with a total investment of $ 370mn till date
Funding from the latest round takes the total amount raised by the company to $ 665mn till date
Sep 2015
Enel Green Power, the Italian developer of solar and wind energy projects, entered the Indian
Equity Value: $34mn
Majority stake in renewable power market with a €30mn ($34mn) acquisition of a majority stake in BLP Energy
BLP Energy is the solar and wind power subsidiary of Indian energy company Bharat Light & Power
Transaction marks the company’s first move into the Asia Pacific region
Acquired by
Acquisition also increases Enel’s net installed global capacity of clean energy to more than 10 GW
Jun 2015
Equity Value: $310mn SunEdison, the world’s largest renewables company acquired Continuum Energy for a total equity
Acquisition of valuation of $310mn (Enterprise Valuation: ~$615mn)
Continuum gives SunEdison ~242MW of operational wind power capacity with 170MW under
construction and over 1,000 MW of wind power plants under development
by
Continuum was 85% owned by Morgan Stanley Private Equity who had invested ~INR 1,200Cr. in
2012 to acquire the stake
Feb 2015 Sembcorp Utilities Pte Ltd, the Singapore-based company engaged in providing utilities, waste
$171mn management, terminalling, and logistics services acquired a 60% stake in Green Infra Limited, the
Acquisition of India-based company engaged in renewable power generation, from IDFC Private Equity for USD
171m
Green Infra adds to Sembcorp a sizable 516-megawatt operating asset portfolio with an additional
200MW under construction
by
Green Infra’s portfolio will almost triple Sembcorp’s current renewable energy generation capacity
globally to over 1,000 megawatts.
20India Presence for more than 155 Years
INVESTMENT
CORPORATE & SOLUTIONS
INSTITUTIONAL BANKING
Investment Banking
Wealth Management SBI Life Insurance
• M&A Advisory
74% SBI & 26% BNP Paribas (2001)
• Equity Capital Markets
• Debt Capital Markets BNP Paribas Investment
Corporate & Institutional
• Loan Capital Markets Sundaram BNP Paribas Fund
Services
• Project Debt Advisory & Financing Services
Client Coverage
• Sector Coverage 51% Sundaram Business Services &
Delhi BP2S Custody Services
• Energy & Natural Resources 49% BNPP Securities Services
(F&O Clearing) (2009)
• Media & Telecom
8 branches
• Transportation & Infrastructure BNP Paribas Sundaram Global
14,000+ employees: Securities Operations
Transaction Banking o 375 in CIB 51% BNPP Securities Services &
49% Sundaram Business Services
o 1,080 in ITES business (2009)
Fixed Income & Treasury Ahmedabad o 9,200 in Investment
Solutions BNP Paribas Mutual Fund
Kolkata 100% BNPP Investment Partners
Commodity Derivatives o 3,500 in Retail Banking (2010)
Invested USD1bn in last
Equity Derivatives and Cash Equities Mumbai few years
Pune
BNP Paribas India Holding Pvt. Ltd.
100% BNP Paribas SA (2012)
Hyderabad RETAIL BANKING
BNP Paribas Securities India Pvt. Ltd. Sundaram BNP Paribas Home
SREI Equipment Finance
(Institutional Broking) Bangalore Finance
50% SREI Infrastructure & 50%
100% BNP Paribas (2013) 50.1% Sundaram Finance &
BNP Paribas Lease Group (2007)
49.9% BNP Paribas Group (2007)
Chennai
BNP Paribas India Solutions (ITES) ARVAL India (Fleet Geojit BNP Paribas (Retail
100% BNP Paribas (2005) management) broking)
100% BNP Paribas (2007) 34% BNP Paribas (2007)
Joint Ventures / Subsidiaries (year of formation)
21Power Project Financing – Typical Transaction Structure
Sponsors Banks
Equity Debt CERC/ Regulator
Concession
Project Company
EPC Contractor
EPC Contract
(Special Purpose Vehicle) O&M Contract
O& M Contractor
Power
Fuel Supply Purchase
Agreement Agreement
Fuel Supplier Offtakers
EPC: Engineering, Procurement & Construction; PPA: Power Purchase Agreement
Sponsors: Established domestic (and few international) players
Revenue source: Long term Power Purchase Agreements (22-25 yrs) with State utilities, increasingly projects with
part merchant risk
Tariff: Mostly rupee denominated fixed tariff PPAs for bulk of capacity
Fuel Supply: Captive coal mines or third party long term fuel supply agreements (Domestic/International coal / Gas)
Technology: JVs of established international technology providers e.g. Siemens, Alstom etc with Indian companies,
increasing involvement of Chinese equipment suppliers
EPC contracts: fixed price, date certain EPC contracts
Power evacuation: transmission infrastructure, grid connectivity
Operations and Maintenance (O&M): In-house or O&M arrangements with experienced contractors
22Key Challenges for International Lenders
23Energy Sector - What BNP Paribas brings to the table
Financing Solutions Associated Solutions
Vanilla Products • M&A Advisory – building on global reach and in-
house expertise
Short Term
• Bilateral working capital solutions in INR • Debt Capital Market Solutions – offshore and
• Import financing solutions for raw materials onshore
• Export pre/post-financing solutions • Fixed Income hedging solutions
• Non-funded solutions – LCs/ BGs/ SBLCs/ documentary collections • Short tenor forwards and flow products
• Medium Term Swap Solutions (currency
Medium/ Long Term
• Syndicated Commercial Loan (ECB) and interest rates)
• ECA backed Financing • Commodity Hedging – Oil & Gas, Coal, Freight
• Project Financing • Carbon Credits Solutions
• Cash Management – domestic and international
Specialized/ Structured Products
Short Term
• Pre- export Financing solutions
• Specialized Inventory Finance (SIF)
• Borrowing base/ Transactional Financing solutions
Medium/ Long Term BNP Paribas has long relationships
• Reserve Base Lending (RBL) with most of the players in the Power,
• Mine Development Financing sector
• Other Limited Recourse Financing Solutions
24Select Credentials in Power sector in India
2015 2014 2014 2013 2013 2008
Power Power Power Power, Mining Power Power
Deal Size: US$ 300mn Deal Size: US$ 332mn Deal Size: $35mn Deal Size: US$ 400mn Deal Size: US$ 33mn Deal Size: US$ 327mn
7 year Rights Issue of Medium term INR loan due 5 year Corporate Guarantee Coastal Gujarat Power Ltd.
Syndicated Term Loan Tata Power 2016 Syndicated Term Loan CLP India to CLP Project Finance
Windfarms
Mandated Lead Arranger Joint Lead Manager Bilateral deal Mandated Lead Arranger MLA, Security Agent, KEIC
& Underwriter & Bookrunner Bilateral deal Agent & Sole Lender
Facility priced at Issue First funded deal Syndication of Part of RBI’s Multi-tranche
160bps over oversubscribed with Tata Power ANZ, Bank of FCNR-B limited-recourse
LIBOR by 1.96x, highest Pvt. Ltd. America, concessional project financing
Syndication of level for any Part of RBI’s Barclays, Credit scheme in support of a
RBS, Axis Bank, rights issue in FCNR-B Agricole, 4,000MW coal-
First Gulf Bank, India concessional Deutsche Bank, fired power
Societe Generale Strong scheme RBS and station in Mundra,
and SBI as other participation from Standard Gujarat
MLAs key institutional Chartered as
and retail other MLAs
investors
25Select Credentials in Oil & Gas sector in India
2015 2015 2014 2014 2014 2014
Advisor to
USD 2.25 bn
Deal Value : USD1.5bn Deal Value : USD400mn Deal size: USD 2.21 bn- Deal Size: CHF 200mn Acquisition Finance Sale of 30% stake in
3.6year Syndicated Term 3.25year Syndicated Term equivalent Senior Notes Facilities Peru block 108 to
Loan Loan Dual currency triple-tranche 3.00% due 2019 Woodside/Plus Petrol
bond issuance Mandated Lead Arranger
Mandated Lead Arranger Mandated Lead Arranger Joint Bookrunner Joint Bookrunner Sole M&A advisor
& Bookrunner & Bookrunner & Agent
2014 2013 2013 2013 2013 2013
USD 900 mn
Acquisition Finance Facility Deal Value : USD500mn Deal Value : USD500mn Deal Value : USD1.75bn Deal Value : USD400mn Deal Size: EUR 55 mn
6 year Syndicated Term Loan 3 year Syndicated Term Loan 5 & 6 year 5 year Syndicated Term Loan ECA Financing
Mandated Lead Arranger Mandated Lead Arranger & Syndicated Term Loan
& Bookrunner & Agent Bookrunner & Agent Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger
& Bookrunner & Bookrunner & Bookrunner & Agent
2010 2010 2010 2004, 2007 & 2011 2007 2007
Deal Size: USD 2bn Deal Value : USD 300mn Niko Resources Ltd Deal Value : USD275mn
Initial Public Offering of Deal Value : USD1.8bn Deal Value : USD150mn Deal Value : USD550mn
Essar Energy Plc Syndicated Term Loan Global ECA Facilitator
Syndicated Term Loan IFC – B Loan MLA (2004, 2007) Gas Field Development
(over multiple transactions) Lead Arranger Sole Arranger (2011) – White Financing
Co Lead Manager Mandated Lead Arranger Knight Lead Arranger
26Thanks for your attention !
m.accinni@bnlmail.com
internazionalizzazione@bnlmail.com
Le informazioni contenute in questo documento sono elaborate da BNL o tratte da fonti ritenute attendibili ma non vi è alcuna garanzia o dichiarazione sulla loro accuratezza,
completezza o correttezza.
BNL declina qualsiasi responsabilità per danni diretti o conseguenti danni derivanti da qualsiasi utilizzo del presente elaborato o del suo contenuto. Questo documento, pubblicato
per l'assistenza dei destinatari, è strettamente confidenziale e non può essere riprodotto, pubblicato o diffuso per alcuno scopo.
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