Notable conditions and developments include:
- -Consistency from Japanese and German banks as core lenders to the project finance sector
- -Strong recovery in overall liquidity driven by the return of a number of traditional European project finance bank lenders across the tenor spectrum following (a) easing in their access and cost of liquidity and (b) the conclusion of overly aggressive balance sheet right-sizing exercises
- -Lenders' increasing willingness to be active outside their core domestic / regional markets
- -Further evidence of institutional liquidity as an additional but often complementary source of liquidity for project finance to that provided by the bank market - with a particular focus on the infrastructure sector
- -Overall increased competition resulting in a clear downward pressure on pricing and increased tenors.