|
Taylor-DeJongh Appointed as Financial Advisor to British Offset Office Timothy Holder Joins Taylor-DeJongh as Director John M. Sachs Joins Taylor-DeJongh as Director British Offset Announces Appointment of Taylor-DeJongh as Financial Advisor Taylor-DeJongh Announces Closing of TIFIA Pocahontas Parkway Loan
September 14, 2007.
Taylor-DeJongh Appointed as Financial Advisor to British Offset
Office Taylor-DeJongh has been appointed as financial advisor to the UK Ministry of Defence with respect to the Al Yamamah Economic Offset Programme. The Offset Programme is a unique initiative between the Governments of Saudi Arabia and the United Kingdom, whose sole objective is to support the development of the industrial base of Saudi Arabia. This is achieved by facilitating the transfer of technology into the Kingdom via joint ventures and licensing deals between Saudi and foreign companies engaged in both manufacturing and service based industries. The Offset Programme has been designed to be broadly based and flexible so as to provide maximum benefit to Saudi Arabia. Other than the physical extraction of oil and gas, there are no restrictions as to the industrial sectors promoted or the country of origin of the technology/venture partner. Examples of projects successfully developed under the Offset Programme include a pharmaceuticals formulation facility involving Glaxo Wellcome, a worldscale sugar refinery with Tate & Lyle, as well as several large petrochemicals complexes involving inter alia Huntsman, Davy Process Technology and Basell. TDJ's role is to provide general and specific financial advice
to the UK Ministry of Defence, as well as to project sponsors developing
ventures under the auspices of the Offset Programme. TDJ sits on
the Joint Offset Committee. September
11, 2007. Timothy HolderJoins Taylor-DeJongh as Director Taylor-DeJongh announces the addition of Timothy Holder as a Director, heading the new office in Bahrain, as of September 1st. Mr. Holder brings more than 17 years of project and corporate finance experience, including equity raisings and mergers & acquisitions, much of which was in the Middle East. He has extensive experience in the petrochemicals, oil and gas and infrastructure industries. Prior to joining TDJ, Mr. Holder was a Director of Business Development Asia, an investment banking advisory firm which primarily advises Western corporations seeking to invest in Asian countries. He established BDA's Middle East office in Bahrain. He has also served as a Director for Merchant Bridge & Co. Ltd and Close Brothers Corporate Finance, for whom he also established an office in Bahrain. Prior to this, he spent 10 years with Schroders, now part of Citigroup. Since 1990, Mr. Holder has been closely involved with advising the UK Ministry of Defence on the Al Yamamah Economic Offset Programme, which seeks to encourage technology transfer to Saudi Arabia through joint ventures. For TDJ, he will continue to manage this relationship with the British Offset Office. Past advisory experience includes advising Huntsman Corporation on its proposed $250mm ethyleneamines joint venture in Saudi Arabia with Zamil Group; advising DuPont on regional entry strategy; advising Advanced Polypropylene Company on attracting third party equity for the development of a $750mm petrochemical complex in Saudi Arabia; providing valuation advice to GARMCO and ALBA in Bahrain; advising MB Petroleum/Petrogas on securing a fully underwritten $95mm limited recourse financing facility for its acquisition and redevelopment of Block 5 in Oman; and advising Gulf Advanced Chemicals Industries Co. on the raising of a limited facility for a $385mm project in Saudi Arabia for the production of specialty chemicals. For information about Taylor-DeJongh's Bahrain office, please contact Timothy Holder directly (+973 17567941; tholder@taylor-dejongh.com).
Taylor-DeJongh (TDJ) announces the addition of John Sachs as Director. Mr. Sachs brings more than 14 years of experience in making direct equity investments, lending and investment banking in the energy and infrastructure sectors. He has led large, multi-disciplined teams in successfully originating, managing and closing transactions totaling over US$4 billion in value in the United States, Asia and the Middle East-North Africa ("MENA") region. Mr. Sachs' experience includes raising over $400 million in private equity and sub-debt for infrastructure in MENA and Asia, acting as lead financial advisor on the successful purchase of controlling interest in the largest independent power producer (IPP) in Tunisia, the largest foreign-owned IPP operating in China and north Asia, and in the successful sale of controlling interest in a portfolio of power assets in the Philippines. Prior to joining TDJ, Mr. Sachs served as Director at PricewaterhouseCoopers Corporate Finance LLC in New York and Washington, D.C. Before that, he was Associate Director with Fieldstone Private Capital Group in Kuala Lumpur, Malaysia. Mr. Sachs has an MBA with a concentration in finance from Vanderbilt University, and a BA in economics and finance from Albion College, Michigan. Terry Newendorp, Chairman and CEO, adds "I
am very pleased that John is on board as a Director based in the
Washington office. His experience in the energy and infrastructure
sectors, and with private equity and mergers and acquisitions reinforces
TDJ's resources for the growth of our business in those disciplines."
July
27, 2007. Britsh Offset Announces Appointment of Taylor-DeJongh
asFinancial Advisor July
24, 2007. Taylor-DeJongh Announces Closing of TIFIA Pocahontas Parkway
Loan The Pocahontas Parkway project, for which Taylor-DeJongh (TDJ) served as financial advisor to TIFIA, closed on July 19, 2007. TIFIA will provide the project sponsor, Transurban USA, with a US$150 million loan. In June 2006, Transurban paid US$611 million to the Pocahontas Parkway Association to defease the outstanding debt and take ownership of the road. DEPFA acted as financial advisor to the sponsor and was a lender alongside Hypo Vereinsbank and Banco Espirito Santo to the sponsor’s concession of the Pocahontas Parkway. Taylor-DeJongh provided TIFIA a detailed analysis of the entire deal structure, including the loan application package. TDJ performed a detailed risk assessment and an in-depth credit analysis of the estimated project revenues on behalf of TIFIA. The US$150 million loan will be used for refinancing commercial debt, developing the Richmond Airport Connector, and implementing upgrades to the toll collection system. In addition, the TDJ team assisted TIFIA in loan negotiations with the sponsor. This was TIFIA’s first refinancing of an existing toll-road. Taylor-DeJongh CEO, Mr. Terry Newendorp, said: “Taylor-DeJongh was very pleased to act as Financial Advisor to TIFIA on this very complex transaction. We enjoyed being an integral and active part of the TIFIA team until closing day. We look forward to continuing our work with TIFIA and to our involvement in other aspects of the U.S. market for infrastructure PPPs.”
Taylor-DeJongh Appointed Financial Advisory for Arizona Clean Fuels Yuma Project Taylor-DeJongh Appointed Financial Advisory for Molybdenum / Copper Project Promotions and Additions at Taylor-DeJongh Announced Maurice Fitz Gerald Joins
Taylor-DeJongh as Senior Adviser
October
19, 2006. Taylor-DeJongh Appointed Financial Advisor to USDOT/TIFIA
JPO for Pocahontas Parkway Transaction with Transurban Taylor-DeJongh (TDJ) has been selected by the USDOT / TIFIA Joint Program Office as its financial advisor for the review of the Pocahontas Parkway loan application submitted by Transurban USA. The proposed loan would be used for refinancing commercial debt, development of the Richmond Airport Connector, and implementing upgrades to the toll collection system. Taylor-DeJongh’s role is to support the TIFIA staff during the review of the application and, if approved, assist in the loan negotiation with the sponsor group. This transaction is unique in that it represents TIFIA’s first opportunity to participate in an existing toll-road refinancing. Taylor-DeJongh CEO, Mr. Terry Newendorp, said: “Taylor-DeJongh is very pleased to have been selected by the TIFIA JPO for this PPP transaction and to be a part of this explosive infrastructure sector in the United States.”
Taylor-DeJongh (TDJ) has been selected by Arizona Clean Fuels Yuma (ACFY) as financial advisor for the development of a US$2.7 billion refinery in Yuma, Arizona. ACFY has just been reissued its Class 1/Title V air permit. The refinery will be the first new oil refinery built in the United States in nearly 30 years. The 150,000 barrel per day refinery will produce cleaner-burning, ultra-low sulfur fuels suitable for the Arizona, Southern California, and Northwestern Mexico markets. The refinery is positioned to supply fuels to the fastest growing market in both the United States—California, Arizona, Nevada—and the Northwestern Mexico region. The oil will be supplied via pipeline through Mexico. Glenn McGinnis, CEO of Arizona Clean Fuels Yuma, said: “As we move closer to financing this critical and strategic project, having Taylor-DeJongh as our advisors will be very beneficial to the company.” Taylor-DeJongh will participate in and provide advice on all aspects of the project going forward, including financial structuring, equity & debt placement and commercial documentation. Taylor-DeJongh CEO Mr. Terry Newendorp said: “To be selected
as the Financial Advisor for the first refinery project in the United
States in 30 years, is an honor for Taylor-DeJongh. This is a ground-breaking
project, and we bring to bear our expertise in structuring global
refinery projects over the past 25 years.”
September
7, 2006. Taylor-DeJongh Appointed Financial Advisory for Molybdenum
/ Copper Project Taylor-DeJongh has been selected by Moly Mines Limited (ASX code: MOL) as financial advisor to the Spinifex Ridge Molybdenum / Copper Project. Taylor-DeJongh has been mandated by Moly Mines to provide assistance with the execution and financial close of the total Spinifex Ridge debt/equity funding package. Commenting on the appointment, Moly Mines Managing Director Dr. Derek Fisher said: "Taylor-DeJongh's extensive experience in the financing of large-scale projects, including those in the oil and gas industry which is a major consumer of specialty molybdenum steels, makes them an ideal advisor for Moly Mines and Spinifex Ridge." Taylor-DeJongh's presence in the North American finance community, in addition to the firm's relationships with product marketing firms worldwide, were cited as key factors in the selection for this role. "This is a great time for Moly Mines to bring on board a global financial advisor. Taylor-DeJongh's highly experienced team will assist us in advancing the project rapidly through the Bankable Feasibility Study and, at the same time, ensure our plans and project financing documentation meet with international capital market requirements," Dr. Fisher said. Part of Taylor-DeJongh's commission is to immediately undertake a market study for molybdenum and to examine and quantify the strong correlation between molybdenum and oil prices dating back over several decades. The core of the study will be an analysis of the projected demand for molybdenum over the next ten years, taking into account planned hydrocarbon projects including refineries, LNG plants, pipelines and shipping, and coal liquefaction plants, all of which are large consumers of molybdenum alloy corrosion-resistant specialty steels. Moly Mines believes Taylor-DeJongh's contribution to the Spinifex Ridge Bankable Feasibility Study at this point will add substantial strategic value as the company progresses through the final technical studies and toward full project financing. Taylor-DeJongh Director Mr. Ramesh Raman said: "Taylor-DeJongh is very pleased to be working on the Moly Mines project, which is an important project, particularly given the increased demand for the product worldwide. We look forward to assisting management in ensuring its success." August
3, 2006. Taylor-DeJongh Appointed as Financial Advisor to the Spinifex
Ridge Molybdenum Project (released by Moly Mines Limited)
Taylor-DeJongh announces the promotions of Afonso Reis e Sousa to Director and Paolo Curiel to Vice President, as well as the addition of William Clark and Scott Flippen as Associates. Mr. Afonso Reis e Sousa, of Taylor-DeJongh's London office, has been promoted to Director. Mr. Reis e Sousa is currently advising the US Export-Import Bank on its first limited recourse loan in Saudi Arabia for a Telecoms project and advising a National Oil Company on the financing of a green-field oil refinery as well as the valuation of and potential acquisition strategy for other assets. He has also been advising the entity developing the Aqaba (Jordan) Special Economic Zone, on the evaluation of bids and contract negotiations in relation to an Air Cargo terminal and on the development of the Aqaba Port Container Village. Before joining Taylor-DeJongh, Mr. Reis e Sousa was at Dresdner Kleinwort Wasserstein (London) in the Natural Resources, Corporate Finance & Origination Group, and was part of the Project Finance and Advisory Group at Deutsche Morgan Grenfell (London). Mr. Paolo Curiel, from Taylor-DeJongh's Washington office, has been promoted to Vice President. His current activities include acting as a buy-side advisor to a financial investor for the acquisition of a Houston-based oil service company, advising the developer and promoter of a large intermodal infrastructure project in Central America, and managing project development activities including the formation of an investment vehicle for energy projects. He also performs financial and commercial due diligence. Prior to joining Taylor-DeJongh, Mr. Curiel was a consultant at the World Bank and was an Investment Banking Associate in Energy and Infrastructure at PricewaterhouseCoopers Corporate Finance LLC. Mr. William Clark has joined Taylor-DeJongh as an Associate in the London office. Mr. Clark recently completed an assignment on-site at a Russian natural gas company, where he assisted in its efforts toward developing a large-scale upstream and LNG liquefaction project. While in Russia, Mr. Clark developed a financial model to analyze the economic effects of various upstream development programs and led a technical and financial sales team in the marketing of a major hydrocarbon production asset. Other assignments include the due diligence and financial analysis on behalf of a lender bank for a large Middle Eastern telecom project and a comprehensive analysis of shipping options for an Atlantic Basin LNG project. Prior to joining Taylor-DeJongh, Mr. Clark was at Lehman Brothers, where he tracked pending energy legislation and regulations for market and sector impacts, and at the U.S. Department of Commerce, where he researched energy related commercial issues and trade barriers. Mr. Scott Flippen has been named an Associate in Washington, D.C. Mr. Flippen's recent advisories include an overview of the role of LNG in the North American market for a major international utility, an analysis of global LNG supply capacity and the identification of potential LNG suppliers for import terminals in South America and the Caribbean. Mr. Flippen's work in the power sector has included an analysis of the electricity market in Peru and he is currently managing a feasibility study for a power plant in West Africa. Assignments for international organizations include work on an energy security study for the United Nations that will be presented at the upcoming G-8 summit and co-management of a natural gas market study and symposium for the Asia Pacific Economic Cooperation. Terry Newendorp, Chairman and CEO, adds "These are outstanding individuals who bring great talent and depth to the organization and have excellent skills in supporting client needs.
January 19, 2006.
Maurice Fitz Gerald Joins Taylor-DeJongh as Senior Adviser Taylor-DeJongh (TDJ) is pleased to announce that Maurice Fitz Gerald has joined the financial advisory team as a Senior Adviser. He brings to TDJ over 25 years of investment banking experience and 14 years as a diplomat. During his career as a banker, Mr. Fitz Gerald has advised governments on financial and structural issues including major projects. He has been instrumental in the financing of complex projects throughout the world. Mr. Fitz Gerald was a prime mover in the development of one of the largest pioneer IPPs to have been financed successfully, the Hub Power project in Pakistan, a 1200 MW development that supplies Pakistan with 25% of its power. It was financed on a BOO basis with export credits, among a number of facilities, and also included a convertible bond. Mr. Fitz Gerald worked closely within the development company, with the World Bank and other agencies to establish new credit enhancement instruments to facilitate the project financing. Hub Power won all the Deal of the Year awards at financial close. In recent years, Mr. Fitz Gerald was instrumental in the financing of the Sasol, Mozambique to South Africa natural gas pipeline project that was named African Deal of the Year in 2004 by Project Finance. He advised on the private development of Quito International Airport, which recently reached financial close, on a large petrochemical project in Egypt and on recent infrastructure projects in Saudi Arabia and Pakistan. Credit enhancement has always been at the center of his project financings, and as a result, Mr. Fitz Gerald has expert knowledge of and good relationships with the leading official agencies. "Maurice brings a strong and diverse background in project development and financing and it is a great pleasure to welcome an outstanding addition to Taylor-DeJongh." said Terry Newendorp, Chairman and CEO.
|
|
