Copying and distributing are prohibited without the permission of the publisher. If you wish to distribute this content please contact Christopher Hunt (email@example.com) for a quote.
Subscribe today: Order Euromoney by contacting us on +44 (0)20 7779 8999 (UK) or +1 212 224 3570.
Project bond market hangs on credit enhancement initiatives
“Infrastructure is not naturally a bond market product. Bonds will account for only 10% of the market at best.” There are plenty of people like this banker who believe that without the comfort of a triple-A monoline guarantee, the risks inherent in funding infrastructure will be too great for the bond market to bear. Considerable time and effort has therefore been spent to find a replacement for the monoline wrap that was the linchpin of the project bond market before 2007.
To receive similar stories, sign up for Capital markets emails.