press releases (2008)

Taylor-DeJongh and Global Banking Corporation B.S.C (c) launch Global Energy Financial Services Co.

Taylor-DeJongh Enters into Strategic Partnership with GBCORP for Energy Investments

Taylor-DeJongh Appointed Financial Advisor to USDOT/TIFIA JPO for the Florida I-595 Transaction

June 4 , 2008. Taylor-DeJongh and Global Banking Corporation B.S.C (c) launch Global Energy Financial Services Co.
Click here for a copy of the full press release

Global Banking Corporation (GBCORP), in strategic partnership with Taylor-DeJongh (TDJ), announced the launch of its newly formed energy-focused subsidiary, Global Energy Financial Services Co. (GEFSCO), at a press conference held June 4 at the Gulf Hotel Convention Centre, Manama, Bahrain.

GEFSCO will identify and structure investments in the oil & gas and power sectors.

GEFSCO will provide advisory services to GBCORP in the following areas:

Target sectors range from upstream exploration & production to natural gas processing, refining, petrochemicals, oilfield services, power generation and related infrastructure. Investments will be conducted through special purpose vehicles conforming to Shari’a rules and principles.

At the event, benefits of the newly established subsidiary GEFSCO were highlighted, GEFSCO’s logo was revealed and GEFSCO’s newly appointed interim CEO, Mr. Timothy Holder, was introduced to the audience.

A discussion panel consisting of leading industry experts followed the announcements. Members of the discussion panel included: Mr. Mark Hanson, CEO of GBCORP; Mr. Ahmed Al Khan, Head of Investment Banking at GBCORP; Mr. Terry Newendorp, Chairman & CEO of TDJ and Mr. Timothy Holder, the newly-appointed CEO of GEFSCO, on interim secondment from TDJ.

Ahmed Al Khan, Head of Investment Banking at GBCORP, stated “The launch of GEFSCO, this strategic alliance with industry leader TDJ, will be integral to the future growth of energy-related projects in GBCORP’s diverse Shari’a-compliant portfolio. The alliance between GBCORP and TDJ will offer us an increased amount of choice in one of the fastest growing sectors in the Gulf.”

Commenting on the strategic alliance, Mark Hanson, Chief Executive at GBCORP, said: “GBCORP is on the threshold of a new era of Islamic investment banking, focusing on building strategic investment bridges and linking the region to global markets. This calls for identifying key areas and leveraging global investment opportunities in core sectors, and energy happens to be one of the most lucrative areas.”

TDJ’s Chairman & CEO, Terry Newendorp, said: “Our strategic alliance with GBCORP is a timely and exciting development, and builds on the existing relationship of our two institutions. TDJ’s 25+ year track record in successfully structuring and closing transactions all over the world will be invaluable in creating and capturing value at this time in the energy cycle.”

Timothy Holder, TDJ Director and interim CEO of GEFSCO, added, “The global remit of this venture sets it apart from some of the more narrowly focused initiatives that have been recently announced.”

GBCORP’s strategy is aimed at capturing a significant share of the US$750 billion global Islamic banking market. GBCORP will leverage its regional expertise and experience to establish a strong presence globally; as well as develop strategic investment bridges, linking the region to global markets and actively facilitating global investment opportunities by building alliances for mutual development.

GBCORP provides a different type of ethical investment, developing new investment offerings that align with investors’ personal values and ethics. As a fast-growing Islamic Investment bank, GBCORP’s aim is to provide its clients with global Shari’a- compliant investment opportunities while offering a professional and personalized service.

May 13, 2008. Taylor-DeJongh Enters into Strategic Partnership with GBCORP for Energy Investments
Click here for a copy of the full press release

Taylor-DeJongh (TDJ) has entered into a strategic partnership with Bahrain-based investment bank Global Banking Corporation B.S.C (c) (GBCORP) for the purposes of identifying and structuring investments in the oil & gas and power sectors.

Under the terms of the partnership, TDJ will provide specialist industry knowledge and financial expertise to a newly established subsidiary of GBCORP set up for the purpose of promoting investments in hydrocarbons and energy infrastructure worldwide. Target sectors range from upstream exploration & production to natural gas processing, refining, petrochemicals, oilfield services, power generation and related infrastructure. Investments will be conducted through special purpose vehicles conforming to Shari'a principles.

TDJ's Chairman and CEO, Terry Newendorp, said, "Our strategic partnership with GBCORP is a timely and exciting development, and builds on the existing relationship between our two institutions. Taylor-DeJongh's 25-year track record in successfully structuring and closing transactions all over the world will be invaluable in creating and capturing value at this stage in the energy cycle."

Head of Investment Banking at GBCORP, Ahmed Al Khan, added: "This strategic partnership with industry leader TDJ is an important step in building a comprehensive portfolio of Shari'a compliant offerings. It brings together many decades of industry expertise to identify, analyse, structure and package transactions in the energy sector, broadening GBCORP's product offering in a well balanced manner."

Tim Holder, Head of TDJ's Bahrain office, added, "The global remit of this venture sets it apart from some of the more narrowly focused initiatives that have been recently been announced, and adds another dimension to our global financial advisory practice."

Taylor-DeJongh is one of the world's leading project finance advisors. The firm has advised on 13 Deals of the Year since 1999, and has consistently ranked as a Top 10 Financial Advisor since 1995. TDJ provides independent financial advisory services to a global clientele in the development, structuring, negotiating and financing of major capital investments around the world. The firm has over 25 years of experience in structuring complex transactions in more than 100 countries, with an aggregate value of over US$70 billion. The firm is a recognized leader in project and structured finance, spanning the oil & gas, power, petrochemical, telecommunications and other infrastructure sectors.

Global Banking Corporation started operations in Bahrain in June 2007 with an authorized capital of US$500 million. GBCORP aims to be the leading investment bank in the GCC with global reach, characterized by the ability to merge international investment excellence with local expertise and with an underlying commitment to provide Shari'a compliant investment banking services. The Bank provides banking services for high net worth individuals and families, corporate and government clients.

May 12, 2008. Taylor-DeJongh Appointed Financial Advisor to USDOT/TIFIA JPO for the Florida I-595 Transaction
Click here for a copy of the full press release

Taylor-DeJongh (TDJ) has been selected by the USDOT / TIFIA Joint Program Office as its financial advisor for the review of the I-595 Corridor Roadway Improvement Project loan application submitted by the State of Florida's Department of Transportation (FDOT). I-595 is located in Broward County, Florida. The proposed loan would be used by the private Concessionaire to be selected by FDOT to finance the reconstruction of the I-595 mainline, improve access roads and construct dedicated reversible Express lanes in the median.

Taylor-DeJongh's role is to support the TIFIA JPO during the review of the application and, if approved, assist in the loan negotiation with the selected concessionaire. This application was made under the SEP-15 program, and asks for TIFIA assistance before selecting the private developer in order to maximize TIFIA use in the proposed financings. The transaction is unique for its use of availability and final acceptance payments as the Project's source of revenues, as opposed to direct tolls.

Taylor-DeJongh CEO, Mr. Terry Newendorp, said: "Taylor-DeJongh is very pleased to be working again with the TIFIA JPO and to act as advisor on this transaction, which should establish some bench marks in new financing structures for U.S. transportation projects, including availability payments."

More...