{"id":38598,"date":"2026-07-07T08:45:39","date_gmt":"2026-07-07T08:45:39","guid":{"rendered":"https:\/\/assetphysics.com\/?p=38598"},"modified":"2026-07-08T00:01:36","modified_gmt":"2026-07-08T00:01:36","slug":"study-reveals-disciplined-infrastructure-lenders-focus-on-project-finance-and-mezzanine","status":"publish","type":"post","link":"https:\/\/assetphysics.com\/de\/study-reveals-disciplined-infrastructure-lenders-focus-on-project-finance-and-mezzanine\/","title":{"rendered":"Study reveals disciplined infrastructure lenders focus on project finance and mezzanine"},"content":{"rendered":"\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p>Disciplined infrastructure lenders are focusing on risk allocation and preserving returns as spreads tighten, new research from Ocorian Nordic Trustee, the leading capital markets services provider, shows (please see the attached press release).<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n\n\n\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p>Its study found a third (33%) of senior market participants believe non-recourse project finance is the most effective lending structure in today\u2019s market, narrowly ahead of 32% who favour mezzanine debt. <\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n\n\n\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p>Around a quarter (24%) highlight the attractions of asset-backed lending with just 8% favouring hybrid structures and 5% senior debt, the research with infrastructure and private credit fund managers, investment bankers and infrastructure firms across Europe, found.<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n\n\n\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p>Senior debt with equity co-investment is by far the preferred approach to risk-sharing in infrastructure financing chosen by 62%, ahead of 18% saying risk-sharing should be structured as a syndicate and 12% favouring hybrid approaches.<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n\n\n\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p>Ocorian Nordic Trustee\u2019s research across the UK, Germany, Switzerland, France, Italy and Sweden found 42% say large corporates such as utilities and energy companies are the most common type of borrower, while 37% pointed to private infrastructure funds.<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n\n\n\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p>The market is feeling the impact of geopolitical tensions and the rise of protectionism which is driving a switch to investing in more local infrastructure projects \u2013 nearly a quarter (24%) strongly agree that is happening while a further 75% slightly agree. <\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n\n\n\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p>However, the market is continuing to evolve as infrastructure investing matures and attracts more capital \u2013 nearly three out of four (72%) expect an increase in more varied equity and debt solutions over the next two years.<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n\n\n\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p>Across the market 76% say they are seeing increased use of hybrid debt and equity structures while 72% are seeing increased use of preferred equity structures, the study found.<\/p>\n<p>Cato Holmsen, Global Head of Capital Markets at Ocorian and CEO of Nordic Trustee, an Ocorian company, said: \u201c\u201cOur research suggest that financing remains conservative with lenders valuing structures that ring-fence asset cash flows, tightly allocate risk, and protect downside risks. Investors are active across the full risk spectrum from mezzanine and hybrid capital to preferred equity. This reflects a continuing sophistication by lenders and borrowers to optimize the capital structure and produce the best possible risk\/returns.\u201d<\/p>\n<p>With more than 3,000 European trustee and loan agency mandates Ocorian offers a wide range of capital markets services including standalone debt, securitisations, listings and loan administration across key global jurisdictions.<\/p>\n<p>It works in partnership with a diverse range of clients providing SPV and corporate services as well as trustee and agency through Nordic Trustee, an Ocorian company and leading provider of loan agency and bond trustee services.<\/p>\n<p>Its global capital markets teams have collectively more than 50 years\u2019 experience navigating complex structures across a broad range of sectors and asset classes including private debt, project finance, aviation real estate and shipping<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Eine Studie von Ocorian Nordic Trustee zeigt: Disziplinierte Infrastrukturlender bevorzugen nicht-rekursives Projektfinanzieren (33%) und Mezzanine (32%); Senior Debt mit Equity-Co-Investment ist zur Risikoteilung vorn (62%). Geopolitik st\u00e4rkt lokale Projekte; hybride und Preferred-Equity-Strukturen nehmen zu.<\/p>\n","protected":false},"author":504,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_co_authors":[],"footnotes":""},"categories":[8,24,16],"tags":[],"type_content":[659,21],"class_list":["post-38598","post","type-post","status-publish","format-standard","hentry","category-infrastructure","category-markets","category-private-debt","type_content-analysis","type_content-report"],"acf":{"homepage_featured_article":false},"_links":{"self":[{"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/posts\/38598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/users\/504"}],"replies":[{"embeddable":true,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/comments?post=38598"}],"version-history":[{"count":2,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/posts\/38598\/revisions"}],"predecessor-version":[{"id":38610,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/posts\/38598\/revisions\/38610"}],"wp:attachment":[{"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/media?parent=38598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/categories?post=38598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/tags?post=38598"},{"taxonomy":"type_content","embeddable":true,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/type_content?post=38598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}