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Lending increases for water and transport

Infrastructure projects in the Water & Sewage and Transport sectors have seen an increase in bank lending for the first half of 2009, despite of an overall fall of 57% in lending to infrastructure according to league tables released today by NCE’s sister publication Infrastructure Journal (IJ).

Lending in the Water & Sewage sector has risen 18% since the previous league tables were released, six months ago and has reached £500M in that period.

Transport is up 6% on six months ago, and that sector’s lending is now listed at £14.8bn.

The other six sectors – Social Infrastructure PPP/PFI, Power, Renewables, Oil & Gas, Telecoms, and Mining & Materials – have all suffered a drop in lending for the second time.

Oil & Gas was the sector that saw the biggest fall in lending since the second half of 2008 – the figure of £5.9bn released today is down 77% on the £26.7bn reported six months ago.

“The global recession and capital crisis that intensified in September 2008 finally caught up with the infrastructure market in 2009,” said IJ Features Editor John Kjorstad

He also noted that the number of deals in the first half of this year was just 225, compared to 297 in 2008’s second half and 380 in its first half – a drop of 41% in twelve months.

The IJ league tables, a valuable reference point for the industry, are published twice yearly. Firms are ranked according to factors including market activity and the calculated risks taken by finance professionals.

The global and regional tables cover eight sectors in total: Transport,Social Infrastructure PPP/PFI, Power, Renewables, Oil & Gas, Water & Sewage, Telecoms, and Mining & Materials.

All firms receive league table allocations for deals that reach financial close. Financial and legal advisers are also given credit for mandates won.

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