Clifford Capital Pte. Ltd. (“Clifford Capital”) and the Asian Infrastructure Investment Bank (“AIIB”) have announced the establishment of Bayfront Infrastructure Management Pte. Ltd. (“BIM”), a first-of-its-kind innovative platform designed to mobilise a new pool of institutional capital for infrastructure debt in Asia. Clifford Capital and AIIB will be taking a 70% and 30% equity stake in BIM respectively. The establishment of BIM builds on the successful issuance of Asia’s first securitisation of project finance and infrastructure loans through Bayfront Infrastructure Capital (“BIC”), launched in Singapore in 2018.
Clifford Capital is a specialist provider of structured finance solutions established with support from the Government of Singapore. We help Singapore companies, as well as companies with a nexus to Singapore, to grow internationally and capture new business in the global market place.
We offer, via a full suite of debt products across the debt capital structure including loans, bonds and mezzanine debt, competitive and bespoke project finance, asset-backed and other structured debt financing solutions for eligible Singapore-based companies in support of their overseas investments or exports in the infrastructure, offshore marine and shipping sectors.Since our inception in 2012, we have committed over US$2 billion to various projects around the world including Asia, the Middle East, Africa, Europe and South America. Our global remit enables us to support our clients particularly in distant markets.
Pierfront Capital is an independent investment company offering junior debt, mezzanine and structured financing solutions in capital intensive businesses to expand the scope of our mezzanine finance solutions, with a view to providing our clients with more financing options as they seek to grow their businesses. Read more here
Bayfront Infrastructure Capital was established in 2018 to structure and sponsor an inaugural Infrastructure Take-Out Facility that packaged a group of project finance loans as publicly listed, tranched securitized notes, facilitating the distribution of traditionally privately bank-financed infrastructure loans to long-term institutional investors, allowing for a more efficient allocation of risk appetite and return requirements and aimed at increasing the capital pool for infrastructure investments in the long run. Read more here
Clifford Capital was pleased to support the inaugural Asia Infrastructure Forum (“AIF”) in October 2019 as a silver sponsor. The AIF was co-organised by Enterprise Singapore, Infrastructure Asia, Ministry of Finance Singapore and Monetary Authority of Singapore, with World Bank Group as Strategic Partner, Financial Times as Conference Partner, and Singapore Business Federation as Supporting Partner. The forum was designed to build on the success and take forward the agendas of two of the region’s most important industry events – the Asia-Singapore Infrastructure Roundtable and the World Bank-Singapore Infrastructure Finance Summit. Speakers included Government Ministers, large asset owners, leading private investors and fund managers, MDBs, developers, technology innovators, key advisors and more. AIF featured the latest developments around finance, sustainable infrastructure and the impact of new technology before drilling more deeply into specific sectors, including energy, cities and transport, with case studies showcasing ground-breaking projects, advanced technologies and emerging funding structures.
Clifford Capital’s CEO, Clive Kerner, presented a case study at the AIF on Asia’s first project finance securitisation executed by Clifford Capital through Bayfront Infrastructure Capital, illustrating how asset securitisation can be leveraged to mobilise institutional investment into Asian infrastructure debt in order to meet the huge financing needs that the region faces for its infrastructure development. He discussed on how this would provide a means for banks, which are increasingly liquidity and capital constrained by Basel III regulations in their ability to continue providing long term loans, to recycle their commitments. Clive also went on to discuss potential future enhancements such as the introduction of a warehousing facility and an eligibility framework to govern loan take-out criteria.
Bayfront Infrastructure Capital was established in connection with the creation of an Infrastructure Take-Out Facility, designed and structured by Clifford Capital. Bayfront Infrastructure Capital offers investors exposure to a pre-assembled portfolio of marquee project and infrastructure loans to borrowers in Asia-Pacific and the Middle East through a securitisation format, which achieved financial close in July 2018.
Clifford Capital’s first project finance securitisation, through Bayfront Infrastructure Capital, was listed as one of Singapore’s efforts to develop regional infrastructure as an asset class, helping to develop Singapore as a full service Asian infrastructure hub.
Clifford Capital’s CEO, Clive Kerner, was quoted on potential future enhancements such as a warehousing facility and an eligibility framework to govern take-out criteria.
For more details, read more