10 March 2017  |  Toronto

DIF reaches financial close on US toll road

DIF Infrastructure IV (“DIF”) is pleased to announce that it has reached financial close on a 33.3% equity interest in Northwest Parkway (NWP), a toll-road located in the Denver metropolitan area of Colorado, U.S.A. (the “Project”). DIF is part of a consortium alongside Northleaf Capital Partners and HICL Infrastructure Company Limited, which acquired a 100% equity interest in the Project from Brisa, a Portuguese toll-road operator.

NWP is DIF’s first transportation infrastructure investment in North America, a sector in which DIF expects considerable growth for the years ahead. The road, which started operations in 2003, has strong traffic history and connects with several toll and non-toll highways, including E-470, I-25, US 36 and US 287, providing convenient access to residential and commercial centres in the region.

Northwest Parkway has 90 years remaining on its 99-year concession to operate and maintain a 14km section of the beltway system extending around Denver. Revenues are generated by tolls through an all-electronic tolling system. The counterparty to the concession is the Northwest Parkway Public Highway Authority.

“”We are excited to add Northwest Parkway to DIF’s portfolio of investments. Northwest Parkway provides DIF’s investors with an attractive North American infrastructure investment underpinned by the dynamic growth in the greater Denver metropolitan area” said Paul Huebener, Partner and Head of DIF Americas.

DIF Profile

DIF is an independent and specialist infrastructure fund management company, managing funds of approximately €3.5 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, renewable energy assets and other core infrastructure assets in Europe, North America and Australia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

9 January 2017  |  Toronto

DIF completes the refinancing of a 30 MWac ground mounted solar PV portfolio

DIF has completed the refinancing of a portfolio of 3 operational, ground-mounted solar PV projects located in Ontario, Canada. The DIF Infrastructure III fund owns 100% of the projects, which commenced operations in 2014 and 2015. The projects sell power pursuant to 20 year feed-in-tariff contracts with the Independent Electricity System Operator (formerly known as the Ontario Power Authority).

Natixis New York Branch, acting as the sole mandated lead arranger, together with Samsung Life Insurance Co. Ltd., Migdal Insurance Company Ltd., Migdal Makefet Pension and Provident Funds Ltd., and Raymond James Banks, NA as lenders, provided approximately CAD$180 million of senior debt facilities to refinance the existing debt.

The lenders were advised by McCarthy Tetrault LLP (legal), DNV KEMA Renewables Inc. (technical), and Intech Risk Management Inc. (insurance). DIF was advised by Torys LLP (legal), KPMG (tax), Riverside Risk Advisors (hedging), Mazars (model audit) and LCN Legal (UK legal).

For more information, please contact:

Christopher Mansfield, Partner
Email: c.mansfield@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu