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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 Laurent Lavigne du Cadet joins Taylor-DeJongh as Deputy CEO 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 Agencies—Emirates
Aluminium (EMAL) reaches financial close on direct loans and loan
guarantees 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 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 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 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 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.
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 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 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 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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