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Final Results January 11, 2010 For Immediate Release

PRESS INFORMATION Global Project Finance Review Full Year 2009 Global Project Finance Volume Down 9% to $292.5bn Asian Volume up 57% to Record $104.0bn State Bank of India Topped Mandated Arranger Ranking State Bank of India and Latham & Watkins Led Adviser Rankings Global Project Finance volume reached $292.5bn in 2009, the second highest total on record despite the fact that volume dropped 9% compared with the $320.9bn raised in 2008. Media Contacts: Natalie Cogan, New York Tel: +1 212 577 4486
natalie.cogan@dealogic.com

The largest deal to close in 2009 was the $18.0bn Papua New Guinea LNG project. Financing comprised $14.0bn debt and $4.0bn equity. Western European project finance volume reached $54.3bn via 265 projects during 2009, down 35% from 2008 and the lowest level since 2004. Asian volume reached $104.0bn in 2009, an increase of 57% on 2008 and the highest annual volume on record, driven by India which led the global nationality ranking with $54.4bn. Project finance loan volume fell 6% to $223.9bn in 2009, while bond volume increased 96% to $12.5bn, compared with $6.4bn in 2008. Debt financing accounted for 81% of total project finance volume in 2009, with equity volumes accounting for 19% down from 24% in 2008 Energy continued as the leading sector and accounted for 36% of global project finance volume in 2009, up from 35% in 2008, despite volume dropping 5% to $106.5bn. Global PFI/PPP volume fell 18% to $55.5bn in 2009 compared with a record $67.8bn in 2008. State Bank of India led the mandated arranger ranking with $27.0bn from 51 deals. Calyon and IDBI Bank followed with $6.9bn and $6.5bn respectively. Credit Suisse led the bond bookrunner ranking with $2.1bn from five projects, followed by Citi and HSBC with $815m and $743m respectively. Advising 34 projects worth $32.8bn, State Bank of India led the financial adviser table. SG CIB and Macquarie Group followed with $20.3bn and $11.2bn respectively. Latham & Watkins led the legal adviser ranking with $15.8bn via 37 deals while Allen & Overy ranked second with $12.5bn via 55 deals.

Shireen Farhana, London Tel: +44 20 7440 6494


shireen.farhana@dealogic.com

Jennifer Cheung, Hong Kong Tel: +852 2804 1223


jennifer.cheung@dealogic.com

Content:
Regional Analysis .......................... 2 Global Volume Analysis .................. 3 Sector Analysis ............................. 4 PFI / PPP ...................................... 5 Top 10 Project Finance Deals .......... 6 Project Finance - Rankings ............. 7 Dealogic Coverage & Criteria ........ 11 Contacts: ................................... 12

Regional Analysis
Asian project finance bucked the global trend in 2009 with volume up 57% on 2008 to reach a record $104.0bn, the highest volume of any region o India was the leading nation globally and accounted for three of the worlds top 10 projects in 2009. Volume was up 189% to reach $54.4bn via 81 projects
$bn 350 300 250 200 150 100 50 0 Project Finance Volume by Region % growth 60% 50% 40% 30% 20% 10% 0% -10% 2004 2005 2006 2007 2008 2009 -20%

Western and Eastern European project finance saw the largest declines of any region, down 35% and 61% to $54.3bn and $10.8bn respectively. 2009 represented the lowest annual volume for Western Europe since 2004 o Germany bucked the trend with volume up 12% on 2008 to reach $6.2bn

North American volume reached just $31.2bn via 93 projects in 2009, down 16% on 2008 and the lowest annual volume since 2005 Middle East and African volume fell 28% to $39.7bn in 2009 compared to $54.8bn in 2008 Brazil accounted for two of the top four largest projects in 2009, while Papua New Guinea claimed the largest deal with its $18bn LNG project

N.America Asia Others


Rank Nationality India United States Brazil Papua New Guinea Spain Australia United Kingdom Qatar China Italy Indonesia Singapore Germany UAE South Korea Total

W.Europe Middle East/Africa Global year-on-year growth


Value Deals (US $m) 54,419 27,480 23,744 18,156 17,655 16,790 12,493 9,183 8,894 7,073 6,678 6,527 6,218 5,721 5,480 292,454 81 76 40 2 101 47 57 6 10 34 21 4 9 9 16 712 % Change (2008) 189% -14% 412% 2941% -24% -20% -22% 37% 13% -17% 51% -6% 12% 79% -3% -9%

North America $31.2bn (93 deals) -16%

Western Europe $54.3bn (265 deals) -35%

Eastern Europe $10.8bn (16 deals) -61% -72%

1 2 3 4 5

Asia $104.0bn (160 deals) 57%

6 7 8 9 10 11 12 13 14 15

Latin Am/Caribbean $34.2bn (67 deals) 15%

Middle East/Africa $39.7bn (63 deals) -28%

Australasia $16.8bn (47 deals) -21%

Dealogic Global Project Finance Review Full Year 2009 January 11, 2010

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Global Volume Analysis


Global Project Finance volume reached $292.5bn in 2009, the second highest total on record despite the fact that volume dropped 9% compared with the $320.9bn raised in 2008 Global project finance volume reached $86.3bn in 4Q 2009, a 50% increase from 4Q 2008 The Asia Pacific region accounted for a 41% majority of global volume in 2009, compared to just 27% in 2008. EMEA saw its share fall from 52% in 2008 to just 36% in 2009, while the Americas region grew its share slightly to 22% from 21% in 2008 Project finance loan volume reached $223.9bn in 2009, down 6% on 2008 but still the second highest annual total on record Bond financing saw the opposite trend as volume increased considerably to $12.5bn in 2009, up 96% compared with $6.4bn in 2008 Equity financing fell to $56.1bn in 2009, down 27% compared to the record $76.6bn seen in 2008 The proportion of project finance volume funded by debt was 81% in 2009, with equity making up the remaining 19%. This compares to 76% debt and 24% equity in 2008 Global PPP/PFI volume reached $55.5bn in 2009, down 18% compared to the record $67.8bn seen in 2008 PFI volume accounted for 19% of total project finance volume in 2009, down from 21% in 2008 and the lowest proportion since 2002
$bn 350 300 250 200 150 100 50 0 2004 2005 Loan
$bn 350 300 250 200 150 100 50 0 2004 2005 2006 2007 2008 2009 PFI volume Non-PFI volume

Global Project Finance

# 800 700 600 500 400 300 200 100 0

2006 Bond

2007 Equity

2008

2009

# of projects

Global PFI Project Finance


35% 30% 25% 20% 15% 10% 5% 0% PFI as % of total volume

Dealogic Global Project Finance Review Full Year 2009 January 11, 2010

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Sector Analysis
Energy continued to be the leading sector in 2009 and accounted for 36% of global project finance, up from 35% in 2008, despite volume dropping 5% to $106.5bn o 4Q 2009 volume was $27.0bn, an increase of 34% compared with 4Q 2008 Within the energy sector Renewable Fuel was the only subsector to record an increase in volume, up 7% on 2008. Power remained flat on the previous year and wind farms fell 28% The largest energy sector deal for 4Q 2009 came from the UAE Shuweihat II IWPP Project ($2.7bn). This helped push the Middle East and North Africa energy sector volume to $12.3bn in 2009, up 41% on 2008 Western Europe accounted for the largest number of projects with 127 deals worth $18.7bn in 2009. India accounted for the largest volume in this sector with 32 deals worth $22bn in 2009
$bn
Sector Breakdown 2009 (2008) Mining Telecom 2% (2%) 6% (1%) Industrial 3% (3%) Petrochemical 3% (9%) Oil & Gas 22% (24%) Energy/power 36% (35%)

Infrastructure 28% (26%)

Sector Volume 120 100 80 60 40 20 2004 2005 2006 2007 Oil & Gas Telecom 2008 2009 Energy/power Industrial Infrastructure Mining Petrochemical

The Infrastructure sector ranked second with represented a 4% fall in volume compared to 2008 o

$81.3bn.

This

Within this sector Road projects totaled $32.3bn and accounted for 40% of volume Airport ranked second in terms of volume within the infrastructure sector with $10.4bn. The Gatwick Airport Acquisition ($3.2bn), Canberra Airport refinancing ($174m) and Melbourne Refinancing 5 ($132m) were the only three projects within this sub-sector to reach financial close in 4Q 2009

Both the Mining and Telecom sectors bucked the overall trend and saw a rise in volume against 2008 to reach $6.1bn and $17.1bn respectively Despite recording a 17% drop in volume the Oil & Gas sector included the Papua New Guinea LNG project ($18.0bn), the largest project to reach financial close in 2009

Dealogic Global Project Finance Review Full Year 2009 January 11, 2010

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Private Finance Initiatives / Public Private Partnerships


PFI/PPP experienced the lowest annual volume since 2006 with volume falling 18% to $55.5bn in 2009, compared with $67.8bn in 2008 o Despite a 44% fall in volume, Western Europe remained the dominant region for PFI/PPP projects, accounting for 32% of volume with 105 projects worth $17.7bn The UK led Western Europe with 52 deals at $8.2bn. followed with $3.4bn via 11 deals Portugal
PFI/PPP Regional Breakdown

$bn 80 70 60 50 40 30 20 10

20% of all global PFI/PPP volume was done in the Indian Subcontinent, with 20 deals closing for $11.1bn, the largest recorded annual PFI/PPP volume for the region

PFI/PPP volume reached $12.9bn in 4Q 2009, up 9% compared to $11.9bn in 4Q 2008

0 2004 2005 2006 2007 2008 Australasia 2009 Western Europe North America Indian Sub-continent Others

Water and Sewerage PFI/PPP projects saw the biggest increase in volume in 2009, reaching $6.0bn from 10 deals. $5.1bn of this volume came from one project the Victorian Desalination Plant

PFI/PPP Sub-Sector Breakdown Water and sewerage 2008 Waste Urban railway 2009

The Victorian Desalination Plant in Australia was the largest PFI/PPP of the year and was one of only twelve projects above $1.0bn in all sectors to reach financial close in 2009

Road projects, at $22.4bn, continued to dominate and accounted for a 40% share of PFI/PPP volume, despite volume falling 4% compared to 2008

Tunnel Road

Education recorded the largest number of deals at 40. The largest project in the sector to reach financial close in 2009 was the Zayed University PPP Project at $1.2bn

Hospital Education 0 5 10 15 20 $bn 25

Dealogic Global Project Finance Review Full Year 2009 January 11, 2010

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Global Top 10 Project Finance Deals

Borrower Name Papua New Guinea Liquefied Natural Gas Global Co LDC Santo Antonio Energia

Project Name

Value ($m) 18,000

Country

Sector Oil Refinery/LNG and LPG Plants Renewable fuel Oil Refinery/LNG and LPG Plants Renewable fuel Power

Financial Close

Papua New Guinea LNG

Papua New Guinea

15-Dec-09

Santo Antonio Hydroelectric Plant

5,693

Brazil

11-Mar-09

Indian Oil Corp Ltd Consortium Energia Sustentavel do Brasil China Power Investment Corp

IOC Paradip Refinery Jirau Hydroelectric Plant Haiyang Nuclear Power Plant

5,545 5,428 5,317

India Brazil China

14-May-09 30-Jun-09 30-Jun-09

AquaSure Finance Pty Ltd Berlin Brandenburg Flughafen Holding GmbH Sasan Power Ltd

Victorian Desalination Plant

5,105

Australia

Water and sewerage

01-Sep-09

Berlin Brandenburg Airport

3,975

Germany

Airport

30-Jun-09

Sasan Ultra Mega Power Project Vodafone Essar Seven Circles GSM Network Rollout

3,836

India

Power

21-Apr-09

Vodafone Essar Gujarat Ltd

3,307

India

Telecom Oil Refinery/LNG and LPG Plants

23-Apr-09

Ras Laffan Liquefied Natural Gas Co Ltd RasGas II & III LNG Expansion - Phase III 3 - RasGas 3 Funding

3,185

Qatar

23-Jul-09

Dealogic Global Project Finance Review Full Year 2009 January 11, 2010

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Project Finance - Rankings & Volume


Final Results Global Project Finance Loans
Mandated Lead Arranger 1 2 3 4 5 6 7 8 9 10 State Bank of India Calyon IDBI Bank BNP Paribas Santander Industrial & Commercial Bank of China SG CIB Mitsubishi UFJ Financial Group China Development Bank Corp Sumitomo Mitsui Banking Corp Value $m 26,987 6,922 6,500 6,034 5,930 4,358 4,348 4,258 3,954 3,854 Deals 51 84 15 72 87 6 55 57 6 44 % 2008 Share 14.1 3.6 3.4 3.1 3.1 2.3 2.3 2.2 2.1 2.0 3 7 31 1 11 19 14 5 228 9 1 2 3 4 5 6 7 8 9

Global PFI/PPP Project Finance Loans


Mandated Lead Arranger State Bank of India Korea Development Bank National Australia Bank IDBI Bank Santander BBVA Calyon Westpac Banking Corp Caixa Geral de Depositos Value $m 5,091 2,860 1,815 1,782 1,408 1,395 1,392 1,300 1,062 927 Deals 10 10 14 5 23 20 15 4 10 13 % Share 13.2 7.4 4.7 4.6 3.6 3.6 3.6 3.4 2.7 2.4 2008 6 2 57 41 8 9 15 13 11

10 Sumitomo Mitsui Banking Corp

North American Project Finance Loans


Mandated Lead Arranger 1 2 3 4 5 6 7 8 9 10 Mitsubishi UFJ Financial Group HSH Nordbank Calyon WestLB Credit Suisse BNP Paribas SG CIB Barclays RBS Dexia Value $m 1,227 1,154 846 829 807 791 612 585 564 495 Deals 22 7 12 11 7 12 8 4 5 13 % Share 7.1 6.7 4.9 4.8 4.7 4.6 3.5 3.4 3.3 2.9 2008 3 1 16 6 5 2 15 33 11 9 1 2 3 4 5 6 7 8 9

European Project Finance Loans


Mandated Lead Arranger Santander BBVA UniCredit SG CIB Calyon BNP Paribas Sumitomo Mitsui Banking Corp Caixa Geral de Depositos Caja Madrid Value $m 3,604 2,228 1,794 1,679 1,579 1,577 1,395 1,388 1,317 1,252 Deals 60 44 21 27 23 24 17 14 33 29 % Share 7.9 4.9 3.9 3.7 3.5 3.5 3.1 3.0 2.9 2.7 2008 4 5 12 16 14 3 15 7 8 17

10 La Caixa

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Asian Project Finance Loans


Mandated Lead Arranger 1 2 3 4 5 6 7 8 9 State Bank of India IDBI Bank China Development Bank Corp Industrial & Commercial Bank of China Korea Development Bank Bank of China Axis Bank Calyon Mizuho % Value $m Deals 2008 Share 26,878 6,500 3,779 3,683 3,333 2,947 2,664 1,240 1,125 1,081 48 15 5 4 13 3 14 11 14 7 38.8 9.4 5.5 5.3 4.8 4.3 3.8 1.8 1.6 1.6 1 7 90 1 2 3 4 5 6 7 8 9

Australasian Project Finance Loans


Mandated Lead Arranger Westpac Banking Corp National Australia Bank Commonwealth Bank of Australia ANZ Calyon Mitsubishi UFJ Financial Group Mizuho BNP Paribas Sumitomo Mitsui Banking Corp Value $m 2,391 2,350 1,663 1,418 1,023 582 552 550 522 443 Deals 21 21 21 19 12 8 4 5 4 4 % Share 15.1 14.8 10.5 8.9 6.4 3.7 3.5 3.5 3.3 2.8 2008 5 4 2 1 14 22 31

3
4 2 52 14 6 8

6
30 13

10 BNP Paribas

10 WestLB

Middle East & African Project Finance Loans


Mandated Lead Arranger 1 2 3 4 5 6 7 8 9 Standard Chartered BNP Paribas Calyon HSBC RBS Standard Bank Al-Rajhi Banking & Investment Corp Banque Saudi Fransi Lloyds Banking Group Value $m Deals 1,586 1,542 1,450 1,376 969 941 913 758 721 715 17 16 15 10 8 9 3 3 3 10 % Share 6.3 6.1 5.7 5.4 3.8 3.7 3.6 3.0 2.8 2.8 2008 8 1 5 3 2 33 4 30 9 1 2 3 4 5 6 7 8 9

Latin American & Caribbean Project Finance Loans


Mandated Lead Arranger Banco Itau Santander Banco Bradesco Banco do Brasil Banco do Nordeste do Brasil Caixa Economica Federal Calyon Sumitomo Mitsui Banking Corp BBVA Value $m 2,836 1,786 1,635 1,507 1,033 739 683 590 572 542 Deals 19 18 7 7 6 1 10 6 8 7 % Share 16.5 10.4 9.5 8.8 6.0 4.3 4.0 3.4 3.3 3.2 2008 11 1 25 25 3 6 2 9

10 SG CIB

10 Mitsubishi UFJ Financial Group

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Arranger of Global Project Finance Loans


Arranger 1 2 3 4 5 6 7 8 9 10 State Bank of India Calyon IDBI Bank BNP Paribas Santander SG CIB Industrial & Commercial Bank of China Mitsubishi UFJ Financial Group China Development Bank Corp Sumitomo Mitsui Banking Corp Value $m 26,987 6,557 6,500 5,697 5,592 4,306 4,305 4,038 3,929 3,761 Deals 51 84 15 76 88 57 7 58 6 46 % Share 14.0 3.4 3.4 3.0 2.9 2.2 2.2 2.1 2.0 2.0 2008 3 9 31 1 7 14 18 5 274 10 1 2 3 4 5 6 7 8 9

Provider of Global Project Finance Loans


Provider State Bank of India Calyon Santander BNP Paribas Mitsubishi UFJ Financial Group SG CIB Bank of China Sumitomo Mitsui Banking Corp BBVA Value $m Deals 10,228 5,960 5,921 5,497 4,455 4,305 4,114 3,529 3,118 3,102 73 85 91 80 66 58 10 48 62 35 % Share 5.3 3.1 3.1 2.9 2.3 2.2 2.1 1.8 1.6 1.6 2008 12 2 9 1 3 13 19 7 4 28

10 National Australia Bank

Bookrunner of Global Project Finance Bonds


Bookrunner 1 2 3 4 5 6 7 8 9 Credit Suisse Citigroup HSBC RBS Bank of America Deutsche Bank JPMorgan Morgan Stanley Goldman Sachs Value $m 2,060 815 743 704 658 642 550 517 400 351 351 351 351 Deals 5 2 1 3 3 3 2 2 2 1 1 1 1 % Share 18.6 7.4 6.7 6.4 5.9 5.8 5.0 4.7 3.6 3.2 3.2 3.2 3.2 2008 2 5 12 9 4 3 16 1 2 3 4 5 6 7 8 9 Sponsor

Sponsor of Global Project Finance Deals


Value $m 5,903 5,815 5,429 5,317 5,117 5,082 3,567 3,408 3,373 3,323 Deals 2 15 4 1 5 5 4 6 5 7 % Share 2.0 2.0 1.9 1.8 1.8 1.7 1.2 1.2 1.2 1.1 2008 15 172 27 449 845 49 -

Republic of India GDF Suez Vidarbha Industries Power China Power Investment Exxon Mobil Odebrecht Vodafone Group Meridiam Infrastructure Fund Adani Group

=10 Caixa Geral de Depositos =10 Millennium BCP =10 Espirito Santo Financial Group =10 BBVA

10 Marubeni Corp

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Financial Adviser of Global PFI/PPP Project Finance Deals


Financial Adviser 1 2 3 4 5 6 7 8 9 10 Macquarie Group PriceWaterhouseCoopers BNP Paribas Ernst & Young Korea Development Bank KPMG IDBI Bank State Bank of India Calyon Power Finance Corp Value $m 7,837 3,777 3,418 3,180 2,746 2,429 2,385 2,345 2,298 1,918 Deals 8 16 3 28 6 23 5 3 3 1 % Share 16.3 7.9 7.1 6.6 5.7 5.1 5.0 4.9 4.8 4.0 2008 3 5 8 2 10 1 4 33 1 2 3 4 5 6 7 8 9

Financial Adviser of Global Project Finance Deals


Financial Adviser State Bank of India SG CIB Macquarie Group IDBI Bank BNP Paribas RBS PriceWaterhouseCoopers Ernst & Young HSBC Value $m 32,801 20,340 11,226 7,087 6,650 6,638 6,287 5,885 5,764 5,529 Deals 34 8 14 13 13 8 20 31 9 3 % Share 17.3 10.7 5.9 3.7 3.5 3.5 3.3 3.1 3.0 2.9 2008 3 11 5 2 7 8 6 9 22

10 Deutsche Bank

Legal Adviser of Global PFI/PPP Project Finance Deals


Legal Adviser 1 2 3 4 5 6 7 8 9 10 Luthra & Luthra Allen & Overy Ashurst India Law Services DSK Legal Linklaters Kim & Chang Clifford Chance Allens Arthur Robinson M. V. Kini & Co Value $m 3,270 2,088 2,009 1,977 1,918 1,855 1,690 1,634 1,587 1,376 Deals 4 17 17 8 1 10 6 6 5 4 % Share 6.0 3.8 3.7 3.6 3.5 3.4 3.1 3.0 2.9 2.5 2008 1 25 12 3 11 2 7 93 1 2 3 4 5 6 7 8 9

Legal Adviser of Global Project Finance Deals


Legal Adviser Latham & Watkins Allen & Overy India Law Services White & Case Amarchand & Mangaldas & Suresh A Shroff & Co Clifford Chance Luthra & Luthra Allens Arthur Robinson Milbank Tweed Hadley & McCloy Value $m 15,800 12,502 11,260 9,949 9,644 9,548 8,051 8,002 7,417 6,564 Deals 37 55 26 22 14 30 10 28 27 5 % Share 6.1 4.8 4.3 3.8 3.7 3.7 3.1 3.1 2.9 2.5 2008 7 2 34 4 21 1 36 9 5 22

10 Sullivan & Cromwell

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Dealogic Project Finance Coverage & Criteria


The following is an Executive Summary of the coverage & criteria used to produce this document. To obtain a comprehensive document detailing Dealog ics precise scope, policies and methodologies, please contact one of the analysts listed on the front page of this release. GENERAL Eligibility is defined by the involvement of infrastructure specific sectors, both economic and social There must be a clearly defined project or portfolio of projects, long term assets, dependency on cash flows and commercial bank lending All PPPs/PFIs (excluding service contracts) are included. Tables cover privately (co-) funded projects. Transactions not denominated in US dollars are converted to a US dollar equivalent at loan agreement signing date. Facilities are included in league tables from: o loan agreement signing date (also understood to be funding date or financial close) for loan mandated arrangers/arrangers; o loan agreement signing date for financial and legal advisers, sponsors and contractors; o general syndication signing date for providers/participants; o bond payment date for bond bookrunners and managers. Tables are complete and current to the best of our knowledge. While an official snapshot of the project finance landscape as of the date of publication, rankings are subject to retroactive change due to a variety of factors. RANKING Financier tables are based on: o equal apportionment between all mandated arrangers of loans for mandated arranger tables; o equal apportionment between all mandated arrangers and arrangers of loans for arranger tables; o final takes (or equal apportionment when final takes are undisclosed) for loan participants; o equal apportionment for bond bookrunners and managers. Non-financier tables include: o legal adviser (to borrower, concession awarder, commercial lender, multilateral lender, ECA, guarantor, divestor) o financial adviser (to borrower, concession awarder, divestor) o sponsor Non-financier tables are based on: o loan agreement signing date; o equal apportionment of project cost between organizations in same role. ELIGIBILITY Mandated Arrangers: mandated arranger status is assigned to the banks awarded the mandate by the borrower or banks given the title by the mandated arranger group Refinancings and restructurings are eligible for tables. Acquisitions of projects are eligible for tables as long as repayment of the debt is based on cash-flows of the assets. Amendments and amended and restated loans are eligible if there is a change to pricing, tenor or loan amount, which require a 100% lender vote. Cancelled loans are eligible provided that the loan agreement has been signed, and fees have been paid. A sole lender on a loan greater than $100m must submit documentation for the deal to be eligible.

EXCLUSIONS We cover only infrastructure project financing and therefore exclude the following: Real Estate (Except PFI / PPP deals); Shipping or Aircraft financing where not tied to a specific project; o Equipment financing (when not related to a specific project); o Agriculture; o Manufacturing. Dealogic reserves the right to challenge any transaction submitted for inclusion and may request supporting documentation. o o

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Contacts:
Media Contacts Natalie Cogan, New York +1 212 577 4486
natalie.cogan@dealogic.com

Shireen Farhana, London +44 20 7440 6494


shireen.farhana@dealogic.com

Jennifer Cheung, Hong Kong +852 3698 4707


jennifer.cheung@dealogic.com

Project Finance Contacts Claris Tam +852 3698 4782


claris.tam@dealogic.com

Michelle Roles +44 20 7440 6448


michelle.roles@dealogic.com

Notes to Editors: Dealogic is the pre-eminent provider of Global Investment Banking analysis and systems. With offices throughout the world, Dealogic offers the most comprehensive coverage of global capital markets, credit markets, and mergers & acquisitions activity available.

Dealogic Project Finance Review is a quarterly compilation of global and regional project finance activity. research, and rankings are provided via the ProjectWare platform.

Data,

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