Clifford Capital launches platform for Asian infrastructure debt

Singapore

FOLLOWING the success of its pilot issuance of Asia's first infrastructure project finance securitisation last year, Temasek-backed Clifford Capital now has plans to set up a platform to mobilise a new pool of institutional capital for infrastructure debt in Asia.

Also the first of its kind in this region, the platform is expected to be capitalised at US$1.98 billion, comprising US$180 million in equity and US$1.8 billion in debt issuance capacity.

The Asian Infrastructure Investment Bank (AIIB) is a partner and will invest US$54 million, representing 30 per cent of BIM's equity capital in the platform, while Clifford Capital holds the remaining.

In an interview with The Business Times, Clifford Capital chief executive Clive Kerner explained how this would work. Clifford Capital has already engaged with 20 leading global project finance banks to set out a framework for the types of project and infrastructure loans - predominantly brownfield - that the platform, Bayfront Infrast…