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press releases (2010)

Taylor-DeJongh Selected
as ECA Financial Advisor to Santos Ltd. for Gladstone LNG Project
Taylor-DeJongh Selected
as ECA Financial Advisor to Santos Ltd. for Gladstone LNG Project
Taylor-DeJongh and Financière
de Champlain sign cooperation agreement
press releases (2009)

Laurent Lavigne du Cadet
joins Taylor-DeJongh as Deputy CEO
I-595 Corridor Roadway
Improvement Project Reaches Financial Close: Taylor-DeJongh Served
as Financial Advisor to TIFIA
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
July 27, 2010. Taylor-DeJongh
served as financial advisor to Export Credit AgenciesEmirates
Aluminium (EMAL) reaches financial close on direct loans and loan
guarantees
Click
here for a copy of the full press release
EMAL, a 50/50 joint-venture between Dubai Aluminium
Company (DUBAL) and Mubadala Development Company (Mubadala), has
reached financial close on US$736 million of direct loans and guarantees
from a consortium of Export Credit Agencies (ECAs), which included
the Export-Import Bank of the United States (Ex-Im Bank), Euler-Hermes
Kreditversicherungs-AG (Hermes) of Germany and the Compagnie Francaise
D'Assurance Pour Le Commerce Exterieur (COFACE) of France. Taylor-DeJongh
served as financial advisor to Ex-Im Bank and COFACE.
Taylor-DeJongh was selected to advise Ex-Im Bank
and COFACE in April 2009 and acted as financial advisor throughout
the financing process. Taylor-DeJongh Chief Executive Officer, Mr.
Terry Newendorp, said: "Taylor-DeJongh was very pleased to
act as Financial Advisor to Ex-Im Bank and COFACE on this very challenging
transaction. This is another highlight in our 17-year history of
advising these agencies on complex project financing deals."
The proceeds of the ECA direct and guaranteed
loans are to be used to complete the first phase of the EMAL project,
which involves the construction of an aluminium smelter in the Khalifa
Port and Industrial Zone in Taweelah, Abu Dhabi, UAE with a nominal
capacity of over 750,000 tons per annum of aluminium, as well as
related infrastructure including a combined cycle 2,000MW power
plant dedicated to the smelter. The ECA financing facilities complement
the initial financing from term lenders that reached financial close
in December 2007. In the project's second phase, EMAL plans to double
the capacity of the smelter to 1.5 million tons per annum making
the facility the largest single-site aluminium smelter in the world.
June
28, 2010. Taylor-DeJongh Selected as ECA Financial Advisor to Santos
Ltd. for Gladstone LNG Project
Click
here for a copy of the full press release
Taylor-DeJongh (TDJ) is pleased to announce its
appointment as ECA Financial Advisor to Santos Ltd for the financing
of Santos' share of the Gladstone LNG (GLNG) project, which is likely
to include a significant component of ECA funding.
Gladstone LNG will be the world's first project to process coal
seam gas (CSG) into LNG. The project entails the development and
production of CSG reserves, and the construction of a 435km gas
pipeline and liquefaction plant for the processing and export of
LNG. The Queensland-based project will initially produce 3.6 million
tons per annum (MMTPA), with a maximum potential production of 10
MMTPA. First cargoes are targeted for 2014.
Taylor-DeJongh Director, Mr. Afonso Reis e Sousa, said: "We
are delighted to be working with Santos on this project, which represents
a significant further step in its LNG growth strategy. Taylor-DeJongh
brings with it a long track record of LNG advisory work in both
the Pacific and Atlantic basins, and we look forward to helping
Santos close the ECA financing for GLNG."
.
March 16, 2010.
Taylor-DeJongh and Financière de Champlain
sign cooperation agreement
Click
here for a copy of the full press release
Financière de Champlain (FDC) and Taylor-DeJongh
(TDJ) have signed a cooperation agreement that covers the entire
renewable energy and environmental infrastructure sectors.
TDJ brings to this partnership its expertise in project development,
structuring and financing, and FDC adds its expertise in sustainable
technologies, company management and the regulatory systems, and
particularly the renewable energy sector. Together, the two firms
will provide advisory services for the development, structuring
and financing (both debt and equity) of renewable energy and environmental
projects and companies globally.
Commenting on the cooperation agreement, Nicolas Rochon, Partner
at Financière de Champlain said: "This partnership reflects
the development strategy of Champlain internationally and in private
equity. We are very eager to share our expertise with one of the
most recognized U.S. project finance specialists, thus hoping to
contribute to the promotion of sustainable development.''
TDJ's Chairman & CEO, Terry Newendorp, said: "TDJ has
extensive experience in developing and structuring energy projects
in the conventional sector, and by virtue of this extraordinary
cooperation venture with Financière de Champlain, we are
now actively involved in all aspects of the renewable energy market
as well: wind, solar, fuel cells and other alternative energy and
water projects. By combining TDJ's expertise and skills with an
asset manager with over a decade in the environmental and renewable
energy industry, we immediately bring "global best practice"
talent to our clients."
November
18 , 2009. Laurent Lavigne du Cadet joins Taylor-DeJongh as Deputy
CEO
Click
here for a copy of the full press release
Taylor-DeJongh is pleased to announce that Laurent
Lavigne du Cadet has joined the firm's Washington office as Deputy
CEO.
Mr. Lavigne du Cadet is an experienced senior manager with over
20 years in international business, as a company founder, decision
maker, investment banker and financial advisor. He has been the
CEO of several global investment companies and a Fund Manager and
has raised more than $3 billion of private capital placements during
his career.
He is a specialist in mergers and acquisitions, project financing
and direct investment, with a focus on oil and gas, power, real
estate and infrastructure. He has extensive experience in high level
negotiations between western industrial/financial groups and governments
and/or public authorities. Mr. Lavigne du Cadet has developed an
expertise in business take-overs and corporate restructurings.
Laurent Lavigne du Cadet was most recently the Chief Executive
Officer of Amwal, the largest Qatari Investment Bank, owned by the
largest institutions of Qatar. Prior to joining Amwal, Mr. Lavigne
du Cadet was head of the oil, gas, and energy and investment banking
group of Millennium Finance Corporation, a subsidiary of Dubai Islamic
Bank, for both equity and debt offerings of energy companies. He
was also the Fund Manager of the Millennium Global Energy Fund.
During his 20 years of experience in the energy sector, he has
acted as a financial adviser and an M&A banker for some of the
largest European and American corporations, such as Total, Technip,
Pride International, General Electric and Alstom. He successfully
advised RAK Petroleum on its first investment in an Australian oil
and gas exploration and production company, as well as its acquisition
of Indago Petroleum assets.
Prior to his position with Millennium Finance Corporation, Mr.
Lavigne du Cadet was the founder and Managing Partner of Alternative
Finance Partners, a merchant bank specializing in oil and gas project
development and financing, with a particular emphasis on upstream
and midstream projects.
The geographical experience of Mr. Lavigne du Cadet covers Russia,
Kazakhstan, Eastern Europe including Romania, the Czech Republic
and Poland, the Middle East, North and Sub-Saharan Africa (in particular
Nigeria and Algeria) and China. Mr. Lavigne du Cadet began his investment
banking career with JP Morgan in Paris, where he specialized in
oil and gas listed companies, after having spent two years in Abu
Dhabi with the French Embassy.
Mr. Lavigne du Cadet holds a business school diploma from the Ecole
Superieure de Commerce, Rouen, France and a Master of Science degree
in International Finance from the University of Paris IX Dauphine.
March
3 , 2009. I-595 Corridor Roadway Improvement Project Reaches Financial
Close: Taylor-DeJongh Served as Financial Advisor to TIFIA
Click
here for a copy of the full press release
The I-595 Corridor Roadway Improvement Project in Florida, for which
Taylor-DeJongh (TDJ) served as financial advisor to the USDOT /
TIFIA Joint Program Office, closed on March 3, 2009. TIFIA will
provide the project sponsor, ACS Infrastructure Development, with
a US$603 million loan. The rest of the financing will be provided
by a consortium of twelve banks. Total project costs, including
financing costs, amount to US$1.68 billion for the reconstruction,
widening and addition of express lanes to a 10.5 mile interstate
highway in Broward County, Florida.
Taylor-DeJongh supported TIFIA from the application
stage through to financial close. The Florida Department of Transportation
(FDOT) submitted a TIFIA application under the innovative SEP-15
process, which enables the shortlisted bidders to approach TIFIA
for funding commitments. TDJ analyzed the proposed financing plans,
performed due diligence of the entire proposed project structure
and assisted TIFIA in drafting preliminary term sheets. After the
selection of the concessionaire, Taylor-DeJongh performed detailed
financial analysis and assisted TIFIA in its negotiations with the
borrower. In addition, Taylor-DeJongh advised TIFIA on credit issues
in the context of the current financial markets.
I-595 is a landmark transaction due to its use of availability
payments. Under this structure, FDOT will retain both the toll revenues
and the traffic risk and will compensate the concessionaire based
on a flat amount. FDOT also agreed to share some of the interest
rate risk prior to financial close.
TIFIA's involvement in the transaction was crucial in order to
provide competitively priced long-term debt to the project and also
to complement commercial bank and equity funding. TIFIA's debt is
pegged to the US government borrowing rate for local entities and
does not have a credit margin.
Taylor-DeJongh CEO, Mr. Terry Newendorp, said:
"Taylor-DeJongh was very pleased to act as Financial Advisor
to TIFIA on this very complex transaction, which closed in such
challenging times. We look forward to continuing our work with TIFIA
and to our involvement in other aspects of the US market for infrastructure
PPPs."
The closing of the deal was covered in numerous
industry publications, including IJ,
Project
Finance (published by Euromoney Institutional Investor) and
Project
Finance International.
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:
Investment valuation
Transaction structuring, negotiation and execution
Post-investment management
Exit strategy and exit execution
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 Sharia rules and principles.
At the event, benefits of the newly established
subsidiary GEFSCO were highlighted, GEFSCOs logo was revealed
and GEFSCOs 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 GBCORPs diverse Sharia-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.
TDJs 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. TDJs 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.
GBCORPs 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, GBCORPs aim is to provide its clients with global Sharia-
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."
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