BBVA the table topper

Our inaugural Infrastructure Investor Assets league tables for the first quarter of 2010 show the infrastructure banking market is alive and well – particularly if your name happens to be BBVA. The Spanish banking group tops our table for global mandated lead arrangers on infrastructure projects (by value), with 33 loans worth $594 million issued during the three-month period.  

Among the projects backed by BBVA during the first quarter were: the €1 billion GSM-R rail communications public-private partnership in France; the Astexol-2 solar thermal electricity generation plant in Badajoz, south-west Spain; and the M51 motorway PPP in Denmark. Two-thirds of the loans made by BBVA during the period were in the renewable energy space.  

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Top mandated lead arrangers globally, Q1 2010   

Organisation                                                                               ($m)           No of deals

 

1-BBVA                                                                                      593.82                33

2-Credit Agricole CIB                                                              586.05                25

3-Santander                                                                             551.60                26

4-Commerzbank                                                                      458.69                  6

5-Caja Madrid                                                                         367.97                14

6-SMBC                                                                                     357.87                10

7-Societe Generale                                                                 350.71               13

8-ING                                                                                         338.32                  8

9-Dexia Group                                                                         315.11                15

10-KfW                                                                                      289.77                  7

Source: Infrastructure Investor Assets

Note: Number of deals equals number of tranches (loans issued) and does not equal number of projects involved (example: 3 loans may still belong to the same project). League tables are published quarterly and are compiled from returned submissions from commercial banks. Only infrastructure related data is included in the tables.

Assets (projects) gain automatic league table credit upon financial close. Institutions (lenders, SPVs, legal advisors) are given relevant credit upon loan-bond agreement signing date (issue date).

Values and league table credits are allocated in USD. Transactions not denominated in US dollars are converted to a USD equivalent in compliance with corresponding exchange rates from transactions’ signing date/date of financial close.