United Kingdom: Project Finance/PPP & PFI

Manchester United's proposed 100,000-seat stadium represents one of Europe's largest sports infrastructure projects under consideration, designed as the centerpiece of a broader Old Trafford area regeneration. The critical question for investors centers on how such an ambitious asset will be financed and commercialized over the long term.

The Hormuz crisis has exposed critical vulnerabilities in Asia's refining and petrochemical sectors, where dependence on Middle Eastern crude flows through the Strait creates immediate margin compression and covenant pressure. As disruptions translate into plant-level losses across the region, lenders face the urgent task of distinguishing assets that can weather the storm from those approaching insolvency.

Energy financing is evolving beyond traditional project-level debt as sponsors increasingly layer holdco finance and NAV facilities into their capital stacks. How do these three financing products interact, and what legal and structural challenges arise when managing competing claims on cash flows moving from project level to fund level?

With the first generation of the UKs operational PFI/PPP projects expiring, and hundreds more set to follow suit over the next few years, vital lessons are being learned on best practice...

Last week saw the issue of further PFI guidance from the Infrastructure and Projects Authority (the IPA) entitled "Navigating the risks of PFI project distress".

PFI deals have recently been in the news, with headlines about disputes between public sector customers and private sector owners and operators as contracts near their expiry date.

With mergers back on the agenda, we look at what we mean by a merger and some key issues trust boards and leaders need to consider.

In February of this year, the International Emissions Trading Association ("IETA") published a comprehensive set of standardised agreements for the sale and purchase...

Global supply chain and energy shortage issues are having a continued impact on limited recourse project financed mining projects. Norton Rose Fulbright counsels Felicity Brown and Matt Hacking...