Quick Facts

  • Strategic partnership between Clifford Capital Holdings and the Asian Infrastructure Investment Bank

  • Seeks to address the large infrastructure financing gap in Asia by mobilising institutional capital for project and infrastructure loans

  • Up to US$1.98 billion capitalisation, comprising US$180 million in equity and US$1.8 billion in debt issuance capacity

  • Builds on the successful launch of Bayfront Infrastructure Capital in 2018, Asia’s first securitisation of project finance and infrastructure loans

  • Strong sponsorship by the Government of Singapore and the Monetary Authority of Singapore

Milestones

2014

The Singapore Capital Markets Committee’s Sub Committee on Infrastructure recommended the need for capital and liquidity management

2015

The Monetary Authority of Singapore commissioned a market study on the opportunities for increasing institutional participation in infrastructure financing in Asia

2018

Bayfront Infrastructure Capital (BIC) was launched as proof of concept for a viable structure to mobilise institutional capital for infrastructure debt in Asia-Pacific and the Middle East

2019

Bayfront Infrastructure Management was established as a 70/30 partnership between Clifford Capital Holdings and the Asian Infrastructure Investment Bank

Looking Ahead

We will continue to work closely with our stakeholders to gain greater access to infrastructure loans, reach out to a wider network of institutional investors, as well as develop the infrastructure ecosystem in Singapore

News

Awards

International Financing Review Asia Awards 2018 BEST STRUCTURED FINANCE ISSUEBayfront Infrastructure Capital Pte. Ltd.’s US$458,000,000 Project Finance Loan Securitisation

Bayfront Infrastructure Capital’s US$458m Securitisation Awarded 2018 Structured Finance Issue Of The Year By IFR Asia

17 December 2018

Clifford Capital is pleased to announce that the US$458m project finance securitisation by Bayfront Infrastructure Capital Pte. Ltd. has been named by IFR Asia as the recipient of the Structured Finance Issue Award for 2018.

IFR Asia noted the following in its awards citation:

“Clifford Capital’s first securitisation of project finance loans revived Asian interest in collateralised loan obligations, created a new asset class for the region and enhanced Singapore’s claim as a centre for infrastructure financing.”

“… settled on a structure that would overcome many of the hurdles in attracting fund managers to individual projects.”

“The portfolio approach, with dozens of project finance loans as the underlying collateral pool, appealed to buyside investors looking to diversify, and freed up bank balance sheets for the next round of projects, creating a template for future deals that can help close Asia’s infrastructure funding gap.”

Bayfront Infrastructure Capital Pte. Ltd. issued four classes of Notes in the first infrastructure project finance securitisation in Asia. Leveraging on Clifford Capital’s experience and expertise in project finance and loan portfolio management, Clifford Capital acted as Sponsor, Manager and Subordinated Note Investor in the transaction. Citi and Standard Chartered acted as Joint Global Coordinator for the transaction.

Project Finance International Awards 2018 ASIA PACIFIC BOND OF THE YEARBayfront Infrastructure Capital Pte. Ltd.’s US$458,000,000 Project Finance Loan Securitisation

Bayfront Infrastructure Capital’s US$458m Securitisation Awarded 2018 Asia-Pacific Bond Deal Of The Year By Project Finance International (PFI)

18 December 2018

Clifford Capital is pleased to announce that the US$458m project finance securitisation by Bayfront Infrastructure Capital Pte. Ltd. has been named by leading project finance publication PFI as the winner of the Asia-Pacific Bond Deal of the Year for 2018.

PFI noted the following in its awards citation:

“… Bayfront Infrastructure Capital (BIC) was established as part of the creation of an infrastructure take-out facility (TOF), designed and structured by Clifford Capital with the twin objectives of mobilising institutional capital for infrastructure debt in Asia while providing commercial banks with an avenue to recycle their balance sheet and make room to finance new greenfield infrastructure projects.”

“The TOF has been designed to provide investors with credit-enhanced exposure to a diversified portfolio of project and infrastructure loans across multiple geographies and sectors. It acts as a bridge between commercial banks and institutional investors, providing the latter with unique access to an asset class that is not readily accessible otherwise.”

“As a new asset class and the first project finance CLO issued out of Asia-Pacific, a comprehensive and strategic investor education process was undertaken. Multiple non-deal roadshows and teleconferences were conducted across Asia-Pacific (Singapore, Hong Kong, Japan, South Korea, Philippines, Australia and New Zealand), Europe and the Middle East. This resulted in significant oversubscription across all note classes from 25 different investors.”

“… testament to the demand for such an asset class in the market and Clifford Capital looks forward to partnering with financial institutions to make the project finance asset class a mainstay in the institutional investment marketplace and thereby unlocking additional liquidity into financing infrastructure projects in the region.”

Bayfront Infrastructure Capital Pte. Ltd. issued four classes of Notes in the first infrastructure project finance securitisation in Asia. Leveraging on Clifford Capital’s experience and expertise in project finance and loan portfolio management, Clifford Capital acted as Sponsor, Manager and Subordinated Note Investor in the transaction. Citi and Standard Chartered acted as Joint Global Coordinator for the transaction.

The Asset Asian Awards 2018 BEST CROSS BORDER SECURITISATIONBayfront Infrastructure Capital Pte. Ltd.’s US$458,000,000 Project Finance Loan Securitisation

The Asset Asian Awards 2018

31 December 2018

BEST CROSS BORDER SECURITISATION

Bayfront Infrastructure Capital Pte. Ltd.’s US$458,000,000 Project Finance Loan Securitisation

The Asset Asia Infrastructure Awards 2019 MOST INNOVATIVE DEAL OF THE YEAR (REGIONAL)
MOST INNOVATIVE DEAL (SINGAPORE)
Bayfront Infrastructure Capital Pte. Ltd.’s US$458,000,000 Project Finance Loan Securitisation

The Asset Asia Infrastructure Awards 2019

31 December 2019

MOST INNOVATIVE DEAL OF THE YEAR (REGIONAL)
MOST INNOVATIVE DEAL (SINGAPORE)

Bayfront Infrastructure Capital Pte. Ltd.’s US$458,000,000 Project Finance Loan Securitisation

Global Capital Asia Capital Market Awards 2018 BEST PROJECT FINANCE DEAL
BEST STRUCTURED FINANCE DEAL
BEST BOND DEAL
Bayfront Infrastructure Capital Pte. Ltd.’s US$458,000,000 Project Finance Loan Securitisation

Bayfront Infrastructure Capital’s US$458m Securitisation Is Awarded 2018 Best Project Finance Deal, Best Structured Finance Deal And Best Bond By GlobalCapital Asia

12 December 2018

Clifford Capital is pleased to announce that the US$458m project finance securitisation by Bayfront Infrastructure Capital Pte. Ltd. has been named by GlobalCapital Asia as the winner of the Best Project Finance Deal, Best Structured Finance Deal and Best Bond in the capital market awards for 2018.

GlobalCapital Asia noted the following in its awards citation:

“Finding novel ways to finance projects in Asia is vital… deals that further infrastructure and project finance in the region are noteworthy, and this year, Bayfront Infrastructure’s CLO stands out for using a creative structure to funnel cash into the sector.”

“… opening a new asset for project financing in Asia, and doing it with a highly sophisticated and complex deal, Bayfront’s CLO deserves recognition.”

Bayfront Infrastructure Capital Pte. Ltd. issued four classes of Notes in the first infrastructure project finance securitisation in Asia. Leveraging on Clifford Capital’s experience and expertise in project finance and loan portfolio management, Clifford Capital acted as Sponsor, Manager and Subordinated Note Investor in the transaction. Citi and Standard Chartered acted as Joint Global Coordinator for the transaction.

Int’l Financial Law Review Asia-Pacific Awards 2019 STRUCTURED FINANCE & SECURITISATION DEAL OF THE YEARBayfront Infrastructure Capital Pte. Ltd.’s US$458,000,000 Project Finance Loan Securitisation

Int’l Financial Law Review Asia-Pacific Awards 2019

31 December 2019

STRUCTURED FINANCE & SECURITISATION DEAL OF THE YEAR

Bayfront Infrastructure Capital Pte. Ltd.’s US$458,000,000 Project Finance Loan Securitisation

PF & Infrastructure Journal Global Awards 2018 ASIA PACIFIC REFINANCING DEAL OF THE YEARBayfront Infrastructure Capital Pte. Ltd.’s US$458,000,000 Project Finance Loan Securitisation

PF & Infrastructure Journal Global Awards 2018

31 December 2018

ASIA PACIFIC REFINANCING DEAL OF THE YEAR

Bayfront Infrastructure Capital Pte. Ltd.’s US$458,000,000 Project Finance Loan Securitisation