PEBBLE 금융 : Project finance made easy for institutional investors

 

03 December 2012

Allen & Overy and Dutch bank ING have developed PEBBLE, a platform which facilitates the funding of greenfield project financing by institutional investors such as pension funds and insurance companies.

The product provides a standard format for projects to obtain funding from alternative credit providers and banks alongside each other. Institutional investors have historically struggled with the low credit rating of projects and the administrative burden of cash management in project finance -  PEBBLE aims to solve both of these issues.

 

Tim Conduit, capital markets partner at Allen & Overy, commented: "The global funding

gap for infrastructure is well documented and PEBBLE will open up previously untapped sources of financing. This is a big step forward but the political will of public sector procurers to facilitate capital markets investment in projects will also be key. There are already encouraging signs from procuring authorities in Europe and the UK Government has now explicitly stated that its policy for PF2, its new approach to private finance for infrastructure, is to 'facilitate access to the capital markets, capitalising on the appetite of institutional investors'."

 

Alistair Higgins, director at ING Commercial Banking, added: “With PEBBLE we have established an open standard, free for all to use, that will better address the needs of government and builders in delivering essential infrastructure. The PEBBLE platform enables institutional money and existing bank lenders to deliver efficient financing for the demands of the infrastructure market.”

PEBBLE has recently been adopted by the International Project Finance Association (IPFA) and launched for market comment.

For further information, please contact Margherita Orlandini, on +44 (0)20 3088 4196

 

 

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