On a quarterly basis, Whitehelm publishes proprietary research on current issues facing the infrastructure sector, and addresses the potential implications and opportunities for clients as the issues relate to their investment portfolios
The implementation of the Basel Accords in Australia as well as the recommendations from the government’s 2014 Financial Inquiry have stimulated significant change in the regulatory landscape of the financial sector. We discuss the impact that such changes have had and will continue to have on investment strategy.
The Dampier to Bunbury Gas Pipeline comprises a 1,600 km gas pipeline, connecting gas fields in the Carnarvon Basin to the population centres in south-west Western Australia. The asset is ultimately owned by DUET Group (ASX: DUE). Investments in the Dampier Notes comprise various fixed rate securities, maturing between 2019 and 2020.
Flinders Ports operates seven ports located across South Australia, including the State’s only container terminal, under a 99-year lease from the State Government. As operator, Flinders Ports provides port and logistics services and infrastructure for container, bulk and break-bulk cargoes servicing many of the State’s key industries.
Aunor Senior Secured Bonds
Autovia del Noroeste (Aunor) operates a 62.4km motorway (RM-15) located in Murcia, Spain under a shadow toll regime. The concession for the construction and the operation of the motorway was granted by the Regional Government of Murcia in May 1999 and expires in September 2026. Aunor benefits from robust patronage with traffic currently 158% above the maximum guaranteed average daily traffic, ensuring very stable cashflows. Aunor is owned by Sacyr Concesiones (51%) and Eiser Infrastructure (49%).
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