Singapore-based Bayfront signed a memorandum of understanding with 15 banks in an effort to fill the infrastructure financing gap in Asia.
Bayfront – itself a 70/30 praetorship between Clifford Capital Holdings and the China-backed Asian Infrastructure Investment Bank (AIIB) – kicked off operations for its infrastructure financing platform in early April. This follows its successful issuance of Asia’s first securitized project finance and infrastructure loans in July 2018.
The newly signed partnership with banks will enable a steady pipeline of loan acquisitions which he called «a key pillar in achieving our objective of crowding in non-bank institutional capital to address the large infrastructure financing gap in Asia Pacific, while at the same time meeting these banks’ capital recycling needs», according to Bayfront chief executive Premod Thomas in a statement.
15 Banks
Currently, the 15 banks that have signed the MoU include BNP Paribas, Citi, DBS, OCBC, Societe Generale, Standard Chartered and more. Bayfront expects to further expand this network of lenders in the future.
«The keen interest shown by the 15 banks which signed MOUs with Bayfront is testament to the strong potential of the platform in unlocking capital for infrastructure financing,» added the Monetary Authority of Singapore’s head of financial markets development Gillian Tan.
«These partnerships are a key element as Bayfront works towards mobilizing private capital into infrastructure finance through innovative market solutions.»
