EMEA

摘要

WoDS Transmission announced investor meetings for a new EIB-backed sterling project bond on Thursday, providing some distraction in a market otherwise dominated by retained deals. The new secured trade, likely to be rated Aa3, will fund a £268.9m project on the West of Duddon Sand UK offshore electricity transmission asset (OFTO), while benefiting from the EIB's project bond credit enhancement programme. This scheme provides a loan or a credit line to the subordinated tranches of a transaction - thus providing credit enhancement to the senior classes by, for instance, covering senior debt servicing if revenues generated by the underlying project are insufficient. It was set out jointly by the European Commission and the EIB in 2007 to boost infrastructure investment, with a €4trn target across transport, energy and IT projects.