EIB cracks project bond conundrum with Castor deal

Castor gas project, ACS, Spain, EIB
By Jon Hay
26 Jul 2013

Hopes that a project bond market can flourish in Europe to finance the continent’s enormous infrastructure needs advanced this week as the European Investment Bank’s much-heralded Project Bond Initiative swung into action.

Using capital provided by the European Commission, the EIB gave €200m of credit enhancement to a €1.4bn bond that refinances the Castor project to store gas underground off the Spanish coast.

The next deal under the EIB’s facility could be for an offshore wind energy transmission network in ...

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