The first infrastructure project finance securitisation in Asia was successfully priced today. Four classes of Notes were issued by Bayfront Infrastructure Capital Pte. Ltd. (“BIC”), which is sponsored by Clifford Capital Pte. Ltd. (“Clifford Capital”), a Singapore-based specialist arranger and provider of project and structured finance solutions.

Three classes of investment grade rated notes (Class A, B and C Notes) were offered to institutional investors and will be listed on SGX-ST. Strong demand was seen from a variety of institutional investors including insurance companies, pension funds, endowment funds, family offices, specialised asset managers as well as individual sophisticated investors.

Mr. Clive Kerner, Chief Executive Officer of Clifford Capital, said: “This is an important milestone for Clifford Capital, and we are delighted to have received strong support from institutional investors in this landmark transaction. Leveraging on Clifford Capital’s experience and expertise in project finance and loan portfolio management, we are committed to developing this asset class as a long-term sustainable solution to encourage institutional participation for Asia’s fast growing infrastructure funding needs.”

For more details, please refer to the press release.

Clifford Capital acted as Bookrunning Mandated Lead Arranger on a US$1.45 billion Senior Secured Term Loan Facility to finance the Cidade de Marica floating production storage and offloading vessel ("FPSO") that will be deployed under a 20 year charter agreement with Petróleo Brasileiro S.A (“Petrobras”) in Brazil. 

Clifford Capital provided a meaningful commitment based on the value of the supply contracts from a number of Singapore-based companies including Dyna-Mac Holdings Ltd which had supplied the topside modules for the FPSO. 

SBM Offshore is an industry leading provider of floating production solutions to the offshore energy industry, with its main focus on the design, supply, installation, operation and the life extension of FPSO vessels. The FPSO is owned by a consortium that includes SBM Offshore, Mitsubishi, Nippon Yusen Kaisha and QGOG Constellation. 

For media enquiries or interview requests, please contact:

Clifford Capital Pte. Ltd.

Audra Low
Head of Origination & Structuring
+65 3157 8930
[email protected]

Tulchan Communications LLP
Adwin Low
+65 6222 3765 / +65 9026 3001
[email protected]