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AllianzGI infrastructure debt investments rise
24 March 2014
Completes eight transactions in less than 12 months
Allianz Global Investors has reached the €2bn
infrastructure debt investment milestone with the completion of
its eighth transaction, the funding of the A11 motorway
development in Belgium.
AllianzGI, on behalf of its clients, is investing €433m in
the senior debt of the A11 project, which involves the
construction of a 12km motorway connecting the Port of
Zeebrugge with the E40 and E34 roads in western Flanders.
The transaction, for which Jan de Nul and DG Infra are lead
sponsors, is the first listed construction-phase project bond
in Belgium and uses the EIB's Project Bond Credit Enhancement
facility. The final maturity of the bond is 31.5 years.
Over the past year, AllianzGI has completed eight
infrastructure debt transactions across seven European
countries, investing in infrastructure asset-owning entities
with both contracted and regulated revenues, including projects
at either the pre-construction or post-construction/operating
stages of their life cycle.
Deborah Zurkow, CIO infrastructure debt AllianzGI said, "This
important milestone provides concrete evidence that there is a
real market opportunity for long term investors to secure an
attractive yield via illiquidity premia and credit spreads
while offering the reliability of an underlying real asset.
"As the market develops and matures we expect to see
significantly more institutional investor interest, which will
help meet society's need for substantial infrastructure
In addition to the transactions completed, AllianzGI has a
pipeline of investments either at the tender stage or close to