Investment
Alpha Trains Junior Debt
Current Investments
Investments Listing
Investment
APA Medium Term Notes
Investment
Arqiva Notes
Investment
Aunor Senior Secured Bonds
Investment
Brisbane Airport Senior Notes
Investment
Calvin Capital Smart Meter Loan
Investment
Dampier Notes
Investment
Green Investment Bank
Investment
Sydney Airport Senior Index Bonds
Investment
TDF Holdco Junior Loan
Investment
Thames Water Finance
Investment
Yorkshire Water
Alpha Trains Junior Debt
Alpha Trains is the largest private rolling stock lessor in the passenger and freight markets in Continental Europe, providing over €2.1 billion in rolling stock to both public and private operators. Alpha Trains’ locomotives division comprises Europe’s largest and most diversified fleet of almost 370 diesel and electric locomotives, while the passenger train division comprises 334 diesel and electric trains.
APA Medium Term Notes
APA Group owns and operates gas transmission, distribution and storage assets across mainland Australia, and has interests in a range of other energy infrastructure investments. The company is listed on the Australian Securities Exchange (ASX: APA). The APA Medium Term Notes pay a fixed coupon of 3.5% p.a. and mature in 2020.
Arqiva Notes
Arqiva is a communications infrastructure and media services company based in the UK. The Arqiva Junior Term Notes were created as part of a larger refinancing of Arqiva’s existing debt facilities, which took place in early 2013. The notes pay a semi-annual 9.5% coupon, and mature in 2020.
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%).
Brisbane Airport Senior Notes
Brisbane Airport operates in South East Queensland under the terms of a 50-year lease (with 49-year extension option) acquired from the Commonwealth Government in July 1997. The Brisbane Airport Senior Notes pay a coupon of BBSW plus 0.4%, and mature in December 2017.
Calvin Capital Smart Meter Loan
As one of the largest independent Meter Asset Providers (MAP) in Great Britain, Calvin Capital (Calvin) finances the provision and installation of electricity and gas metering meters on behalf of energy suppliers as well as managing the meter portfolio. Since its inception in 2002, the company has financed the procurement and installation of six million domestic meters, investing nearly £600 million. As a market leading MAP, Calvin is ideally positioned to support energy suppliers in meeting their smart meter roll-out obligations and has already secured contracts for over eight million smart meters.
Dampier Notes
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.
Green Investment Bank
The GIB was established by the UK Government in 2012 and acquired by Macquarie entities and USS in August 2017. The GIB had committed over £1.8 billion across a range of debt and equity investments in the renewable sector, as at end December 2015.
Sydney Airport Senior Index Bonds
Sydney Airport is Australia’s largest airport and operates under a long-term lease from the Australian Government. Sydney Airport is listed on the Australian Securities Exchange (ASX: SYD). The capital indexed bonds mature in 2020 and provide an inflation-linked coupon of 3.76%.
TDF Holdco Junior Loan
TDF is the market leader in the provision of TV and radio broadcast networks, telecom infrastructure solutions and digital terrestrial media platforms in France. The company has a portfolio of high quality real assets in key locations with the widest geographic coverage in France, which are critical to the reception of TV and radio channels, and to the functioning of mobile telephone networks.
Thames Water Finance
Thames Water is the UK’s largest water and wastewater services company, responsible for the public water supply and waste water treatment in large parts of Greater London, the Thames Valley, Surrey, Gloucestershire, Wiltshire, Kent, and some other areas of the United Kingdom.
Yorkshire Water
Yorkshire Water is the the fifth-largest water and sewerage company in the UK by both Regulatory Capital Value and by number of customers served. The business provides drinking water and sewage treatment for 5.0 million customers in the Yorkshire region, in the North East of England.