Claymore Advisory
Project Finance Advisory
News
30 June 2015
Finance Monthly 2015 Global Awards Winners Announced
Finance Monthly has just announce that the official publication of its annual Global Awards edition for 2015 has now been published.
Claymore Advisory has been awarded Project Finance Firm for 2015, Australia. Edward Mytkowski, founder of Claymore Advisory commented “that we are very proud and privileged to receive this accolade. It really highlights what a small boutique advisory firm can deliver to its clients”.
The 2015 Finance Monthly Global Awards celebrate the success, innovation and quality of firms working in, and with, the financial and legal sectors across the globe.
Over the past three months Finance Monthly’s research team has worked hard to assess nomination entries, and conduct extensive research involving clients and peers. The end result is an awards publication which contains some of the most successful and trusted firms operating in a dynamic financial sector.
Editor-in-chief, Mark Palmer commented: “Time has had a transformative effect on the global economy and now in 2015 many economies are beginning to flourish. As in previous years our research has highlighted statistical and anecdotal evidence which reflects the positive global outlook.
To view the winners, visit the Finance Monthly Awards Page.
8 December 2014
Balfour Beatty reaches financial close on first investment in Australia
Balfour Beatty, the international infrastructure group, announces today that it has reached financial close on a student accommodation project for the University of Wollongong in Australia. The project is the first of its kind in Australia and is similar to a public-private partnership (PPP). Balfour Beatty will invest AUS$28.3 million (50% of the required equity) to finance the AUS$250 million project.
The project comprises the design and construction of a 1,050 new bed development and a maintenance license for the University’s entire existing accommodation facilities, currently at 1905 beds. Balfour Beatty Investments’ role is as a sponsor and investor, working with local construction contractor, Hutchinson Builders and local asset management contractor, Programmed Facility Management, who will provide hard facilities management services for the 39 year concession period.
Expanding the student accommodation portfolio will allow the University to improve its competitive position and make the University of Wollongong a more attractive destination for regional, domestic and international students. The University believes that working with an experienced and world-class public infrastructure partner, Balfour Beatty Investments, will assist with the delivery of a superior accommodation experience for their students.
This is Balfour Beatty Investments’ first project to reach financial close in Australia, establishing a platform for future investment and development opportunities. Based out of Sydney, the Australia investments team will continue to identify opportunities for further investment in social and economic infrastructure.
Commenting today, Balfour Beatty Investments Chief Executive Officer, Ian Rylatt, said, “The Investments division has achieved considerable success in the student accommodation market, building a portfolio of 13 projects (including those currently at preferred bidder), which has generated significant value for the Group. We look forward to working in partnership with the University of Wollongong to support their future growth through the delivery of this ground breaking new project.”
Claymore Advisory is the financial arranger and adviser to Balfour Beatty Investment lead consortium for the University of Wollongong Student Accommodation project.
4 December 2014
UOW accommodation transaction closes
Student accommodation at the University of Wollongong (UOW) will undergo a major expansion and transformation in a circa $250M dollar public private partnership transaction announced today (4 December).
UOW has agreed to grant a long-term licence of its entire student accommodation portfolio to a private sector infrastructure consortium. The partnership is the first deal of its kind in Australia and will include an additional 1,000 beds in two new on-campus residences (comprising four towers), taking the total number of UOW beds available for students to more than 2,650.
Under the PPP structure, UOW retains responsibility for the day-to-day operation of the student accommodation, including the nine existing facilities, plus the new components to be constructed.
The Living + Learning Partners (L+LP) consortium - whose lead partner is the UK listed Balfour Beatty plc, has been granted a 39-year licence of the new and existing accommodation portfolio.
L+LP will design and build two new, high-quality student accommodation facilities on the Wollongong campus. Construction is expected to commence in July 2015 and be completed by 2018 and is anticipated to create more than 300 jobs each year.
The capital released from the transaction will be redeployed by UOW towards core teaching and research infrastructure. The transaction comprises a key element in UOW’s wider funding strategy to ensure it maintains and builds on its world-class teaching and research status.
In previous financing innovations, on the back of its AA credit rating assigned in 2007 by Standard and Poor’s, UOW successfully raised [$62.5M] in two separate bond raisings from the domestic debt capital markets.
Professor Paul Wellings, UOW Vice-Chancellor, said: “We are very excited about this opportunity to work with a world-class public infrastructure partner and to increase the capacity and quality of our student accommodation. The project will continue our efforts to create a vibrant campus and also allow us to recycle funds for vital teaching and research infrastructure and resources.”
In order to secure UOW’s future appeal to students for an attractive study away from home experience, a key focus in the selection of the preferred partner has been on the quality and amenity of the accommodation to be constructed, and the agreed refurbishment program for the existing accommodation.
The parties to the transaction believe that the agreed designs will deliver this outcome for students and UOW throughout the concession period.
Rob Drake, Head of Balfour Beatty Investments Australia, said: “We are absolutely delighted to be working with the University and applying our capabilities to assist UOW in achieving its ambitions.
“Balfour Beatty Investments takes a global approach to the higher education sector, with its university accommodation team in Sydney working with their colleagues in the UK and the United States, collaborating on the latest, best in class designs, as well as the best service delivery and the optimal financial structure.”
The partnership comes after the University sought expressions of interest from private partners in late 2013, in response to increasing demand for accommodation from domestic and international students.
Notes to media:
The new accommodation will be built on two locations on the Wollongong campus – at the eastern end of Northfields Ave and at the Kooloobong precinct at the western end of Northfields Ave.
Artists’ impressions are available here: http://goo.gl/g9mXZI
Media contact:
Zoë Taylor, UOW Media and PR Manager, 02 4221 5081, 0405 014 028, ztaylor@uow.edu.au or Rob Drake L+LP, 02 9272 5255, 0416 278 562, rob.drake@balfourbeatty.com.
Claymore Advisory is the financial arranger and adviser to L+LP.
21 November 2014
Student accommodation transformation
Student accommodation at UOW will undergo major expansion and transformation in a multi-million dollar deal that is the first of its kind in Australia.
The plans to increase the amount and quality of accommodation on offer, and to develop the Wollongong campus into a vibrant destination of choice for students, have been unveiled as UOW enters the final stages of negotiation in a unique agreement with a private sector partner.
UOW will enter into a long-term licence agreement of its entire student accommodation portfolio to a private sector consortium, which will invest in two newly built, on-campus residences, taking the number of beds the University can provide to students to more than 2,500.
The University will retain responsibility for the day-to-day operations of student accommodation, currently comprised of 1,905 beds over nine properties and precincts. The consortium, Living + Learning Partners (L+LP) – whose lead partner is Balfour Beatty Investments – will be granted a 39-year licence of the new and existing accommodation and will provide the University with a funding injection that will be used to invest in our core teaching and research endeavours.
L+LP will design and build two new, high-quality student accommodation facilities on the Wollongong campus, comprising a total more than 1,000 beds. Construction is expected to commence in July 2015 and be completed by 2018 and is anticipated to create more than 300 jobs each year.
Professor Paul Wellings, UOW Vice-Chancellor, said: “We are very excited about this opportunity to work with a world-class public infrastructure partner and to increase the capacity and quality of our student accommodation. The project will continue our efforts to create a vibrant campus and also allow us to recycle funds for vital teaching and research infrastructure and resources.”
Rob Drake, Head of Balfour Beatty Investments Australia, said: “We are absolutely delighted to be working with the University and applying our capabilities to assist UOW in achieving its ambitions.
“Balfour Beatty Investments takes a global approach to the higher education sector, with its university accommodation team in Sydney working with their colleagues in the UK and the United States, collaborating on the latest, best in class designs, as well as the best service delivery and the optimal financial structure.”
The partnership comes after the University sought expressions of interest from private partners in 2013, in response to increasing demand for accommodation from domestic and international students.
Notes to media: The new accommodation will be built on two locations on the Wollongong campus – at the eastern end of Northfields Ave and at the Kooloobong precinct at the western end of Northfields Ave. Artists’ impressions are available on request.
Media contact: Zoë Taylor, UOW Media and PR Manager, +61 2 4221 5081, +61 405 014 028, ztaylor@uow.edu.au or Rob Drake L+LP, +61 2 9272 5255, +61 416 278 562, rob.drake@balfourbeatty.com.
About the University of Wollongong
The University of Wollongong (UOW) is globally ranked as one of Australia’s best modern universities and currently sits among the top two per cent of universities in the world.
UOW has built an international reputation for world-class research and exceptional teaching quality. It has a five-star status for its ‘educational experience’ and ‘graduate outcomes’.
About L+LP
Living + Learning Partners is a consortium led by Balfour Beatty Investments Limited - an international infrastructure group that delivers world-class services essential to the development, creation and care of infrastructure assets; from finance and development, through design and project management to construction and maintenance.
Claymore Advisory is the financial arranger and adviser to L+LP.
7 November 2014
Claymore Advisory Moves into New Location
Claymore Advisory is pleased to announce we have relocated to new premises at Suite 3, Level 11, 280 George Street Sydney. Please also note new office phone number + 61 2 8964 9999. We look forward to assisting you with any of your requirements.