Yesterday
AirTrunk rolls out $7 billion staple debt package to bidders
AirTrunk’s key lenders have waived their rights to exit the debt stack upon a new owner’s arrival. Instead, they are underwriting a staple debt package to underpin bidders’ financing requirements.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Infratil nabs Goldman, Barrenjoey, UBS for $1b CDC data centre play
The three investment banks led the two-part transaction that will also bolster the New Zealand-based company’s balance sheet.
- Aaron Weinman
Prepare for building inflation to surge again
After a lull in infrastructure and construction, cost escalation is about to pick up, driven this time by local demand, wages and changing technology.
- Michael Bleby
This Month
- Opinion
- Private equity
Why things are looking up for private markets and dealmaking
Turmoil and uncertainty are a constant in asset management. But things are starting to turn for deal makers as money is finally being put to work.
- Katrina King
‘Pretty surreal’: Transurban chief remembers ‘sexism’ storm
Michelle Jablko’s appointment as ANZ CFO in 2016 was initially lauded, but then the bank’s reaction to criticism of her became the story.
- Lucas Baird
Qld raises left-field solution to unlock billions for new tunnel
The government is working on a plan to resume operating the state’s toll roads to help finance a new multibillion-dollar tunnel construction.
- Updated
- Tess Bennett
Canadian giant joins $15b-plus bidder fray for AirTrunk
CPPIB hired investment bank RBC Capital Markets for help with due diligence and funding ideas in the run-up to the NBIO deadline.
- Updated
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Chanticleer
From 40 red buses in Melbourne to $400m a year and a $4b payday
Bus company Kinetic is one of Australia’s unheralded success stories. In an industry full of family operators, no one has cracked it like Kinetic’s crew.
- Anthony Macdonald
May
HMC Capital lobs bid for Symphony Infrastructure Partners
Sources say it is going toe-to-toe with a handful of infrastructure investors in the auction’s second-stage.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Thames Water’s big stink: Is Macquarie to blame?
The crisis in England’s water sector is coming to the boil. Macquarie, with more than $3 billion invested and its UK reputation on the line, will be feeling the heat.
- Hans van Leeuwen
QIC launches $129m selldown at Dalrymple Bay Infra; MacCap on ticket
The trade was structured as a variable price bookbuild, underwritten by MacCap at the $2.58 a share floor price.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Property investment
How to buy property that cashes in on the ‘big build’
Being located within 1.6 kilometres of a hospital or major activity centre increases prices by an average of 1 per cent.
- Richard Wakelin
- Opinion
- Opinion
There’s value in big government spending done right
The private-public partnership championed by Anthony Albanese that is transforming the supply chains is a role model for underwriting critical minerals expansion.
- Tony Boyd
Chairman swap at Plenary Group after arrival of Abu Dhabi wealth fund
Next up would be replacing the two board seats held by Canadian pension fund Caisse de depot et placement du Quebec.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Florence, the Snowy 2.0 machine, is stuck again
Snowy Hydro does not know how long it will take to restart the Florence boring machine on its $12 billion Snowy 2.0 pumped hydro scheme after it stopped tunnelling.
- Jenny Wiggins
Governments ‘should report cost blowouts just like companies do’
State governments should be held to the same reporting standards as ASX-listed companies when it comes to major projects, Marion Terrill says.
- Gus McCubbing
- Opinion
- Chanticleer
Why a rubbish collector is the ASX’s most vulnerable big company
Cleanaway Waste Management needs investors to buy into its growth story, and soon, because while earnings forecasts are rising, the share price isn’t. That makes it vulnerable to a takeover.
- Updated
- Anthony Macdonald
Gupta’s $500m Whyalla steelworks upgrade delayed by two years
A plan to produce green steel will now be pushed out until 2027, the company said. It is already grappling with issues that have shut down the furnace.
- Simon Evans
Labor adds $16.5b road and rail projects
The government committed $16.5 billion to road and rail projects, including $4.1 billion for 65 new developments – just 12 of which were revealed in the budget.
- Ronald Mizen
Eyes on Transgrid as super funds bail out of $8b infra fund UTA
Sources say Aware Super has hired Campbell Lutyens, a specialist in moving illiquid investments for institutional investors, to shop a $600 million stake.
- Sarah Thompson, Kanika Sood and Emma Rapaport
