Infrastructure Sector Market Review & 2010 Outlook
Citi Capital Advisors, May 2010
36 Pages Posted: 28 Feb 2011 Last revised: 28 May 2013
Date Written: May 1, 2010
Abstract
This report provides an update on developments in the economic infrastructure sector during 2009 as well as provides nuanced geographic and sector perspective. The focus is primarily on OECD countries, with ancillary attention to emerging markets. We analyzed 634 transactions that achieved financial closure in 2009 and contrasted them with around 895 transactions in 2008. These 1529 transactions, which collectively constitute around 90% of total market activity over the past two years, gave us 146,784 data points , which we examined on a variety of dimensions including, (i) Geographic focus. We investigated OECD (North America, Western Europe, Australia) transactions and contrasted them with emerging markets (Middle East, Asia Pacific-ex Japan, Eastern Europe, Latin America and the Indian Subcontinent) deals. We segmented the data both at the aggregate and country level and the findings are presented at the global, developed country, emerging markets and, where significant, the country level. (ii) Sector focus. We excluded social infrastructure transactions and concentrated only on economic infrastructure – on Mining & Metals, Oil & Gas, Power, Renewable Energy, Telecom, Transport, Water & Sewage sectors. (iii) Financial focus. We analyzed different transaction types by size, sector, geography and the type of financing employed to unearth trends in debt and equity usage. When appropriate, we also examined the effect of the economic crisis and various stimulus programs on the asset class and include our perspective by way of commentary.
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