News

Press Releases

Social Media

Our Markets and Investor Services team recently returned from the US, having attended SFVegas 2026 as well as attending key partner meetings in New York City.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7434417778197139456/">here</a>.

Clifford Capital at SFVegas 2026 and NYC

Recently Murli Maiya, and Kyung-Ah Park, Temasek's Chief Sustainability Officer, recently spoke with The Business Times on how blending infrastructure assets from developed and emerging markets can scale sustainable infrastructure in Southeast Asia.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.businesstimes.com.sg/international/asean/blending-developed-and-emerging-market-assets-draws-more-private-capital-south-east-asias-energy">here</a>.

Murli Maiya, Group CEO at Clifford Capital on The Business Times

The Clifford Capital team welcomed the Lunar New Year last Friday with a morning lion dance and a celebratory lunch. From the Lo Hei to interactive games, offering an opportunity for the team to connect and celebrate together.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_the-clifford-capital-team-welcomed-the-lunar-activity-7431554680121589760--4rv?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAADMiRuMB_WPXrgQL20HPE-zrH8yd085Q_yk">here</a>.

A Lunar New Year Celebration with Clifford Capital

Vid will be joining industry leaders on the “Concrete Capital: the growing appeal of infrastructure debt” panel to discuss the resilience and evolving role of infrastructure debt in today’s market.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-infrastructurefinance-superreturn-activity-7430074155191980033-Cwct?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAADMiRuMB_WPXrgQL20HPE-zrH8yd085Q_yk">here</a>.

Vidyasagar Pulavarti, Chief Investment Officer at Clifford Capital will be speaking at SuperReturn Private Credit Europe 2026

Lily Choh, Group Head of Asset Management, recently sat down with AsianInvestor. In the interview, Lily reflected on disciplined investing, leadership grounded in authenticity and empathy, and navigating uncertainty, in markets and in life.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_executive-exchange-with-lily-choh-fund-activity-7427933369071718400-nhAK?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAADMiRuMB_WPXrgQL20HPE-zrH8yd085Q_yk">here</a>.

Lily Choh, Group Head of Asset Management at Clifford Capital in AsianInvestor

Herman Wijaya, Group Chief Financial Officer participated in the “Market Trends &amp; the Future of Investing” panel at the Singapore Financial Conference 2026. The panel explored how shifting macroeconomic conditions are influencing capital deployment.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7426515056529551360">here</a>.

Herman Wijaya, Group Chief Financial Officer at the Singapore Financial Conference 2026

Clifford Capital’s Nicholas Tan joined experts from across the industry to dive into the evolving APAC landscape at "The Changing Landscape of Private Credit in APAC" panel, hosted by APLMA.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_aplma-privatecredit-cliffordcapital-activity-7425369929106931712-mc8V?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAABPNES8BnMK9DJYZRtaW8bU8hzwmAR_9wWc" download="file">here</a>.

Clifford Capital at APLMA

Vidyasagar (Vid) Pulavarti, Chief Investment Officer of Clifford Capital Asset Management, participated on the "Investing Under Uncertain Times" panel to discuss the rise of private credit, strategies for risk-adjusted returns and downside protection, and the importance of diversifying across sectors, structures, and borrower profiles.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7423910571454156800">here</a>.

Vidyasagar (Vid) Pulavarti, Chief Investment Officer of Clifford Capital Asset Management, on the "Investing Under Uncertain Times" panel.

Audra Low, Group Head and CEO of Clifford Capital Credit Solutions, was at SMU EYE Investment Club's fireside chat on "Woman in Finance 2026” where she shared her career journey and offered advice on building confidence and overcoming challenges in finance roles.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-infrastructurecredit-womeninfinance-activity-7421753967921004545-JGX_?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAABPNES8BnMK9DJYZRtaW8bU8hzwmAR_9wWc">here</a>.

Audra Low, Group Head of Client Coverage, joins "Woman in Finance 2026" fireside chat at SMU

Nicholas Tan, Clifford Capital’s Group Head of Markets &amp; Investor Services, was at the EY Global Private Markets Symposium to deliver a keynote on the rise of infrastructure credit and how the asset class is evolving to support long-term, resilient investments across the region.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7419937730089873410">here</a>.

Nicholas Tan, Clifford Capital’s Group Head of Markets & Investor Services, at the EY Global Private Markets Symposium

Comprising US$500 million 3-year notes and US$500 million 5-year notes priced at par, the 3-year tranche carries a coupon of 3.852%, while the 5-year tranche carries a coupon of 4.037%, corresponding to a spread of 32 basis points over both the respective US Treasury benchmarks.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-infrastructurecredit-activity-7414515451755421696-V5Am?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAABPNES8BnMK9DJYZRtaW8bU8hzwmAR_9wWc">here</a>.

Clifford Capital prices US$1 billion dual-tranche bond offering

Singapore, 7th January 2026 – Clifford Capital, the Singapore-headquartered infrastructure credit platform, priced a dual-tranche US dollar fixed-rate bond offering on Tuesday, 6th January.The offering comprised US$500 million 3-year notes, issued by Clifford Capital Asset Finance Pte. Ltd. (CCAF), and US$500 million 5-year notes, issued by Clifford Capital Credit Solutions Pte. Ltd. (CCCS). Both priced at par, the 3-year tranche carries a coupon of 3.852%, while the 5-year tranche carries a coupon of 4.037%, corresponding to a spread of 32 basis points over both the respective US Treasury benchmarks.The bonds are unconditionally and irrevocably guaranteed by the Government of Singapore and are rated Aaa by Moody’s and AAA by Standard &amp; Poor’s. HSBC, J.P. Morgan and Standard Chartered Bank acted as Joint Global Coordinators and Joint Lead Managers for the transaction. DBS Bank Ltd., SMBC Nikko, Société Générale and UBS were Joint Lead Managers.The offering was significantly oversubscribed, attracting a broad, high-quality investor base across public sector institutions, banks, asset managers, corporates and private banks, with strong participation from Asia, the Off-shore United States, and EMEA.Proceeds from the transaction will be used for general corporate purposes, supporting Clifford Capital’s ongoing infrastructure debt origination, distribution and investment activities.Transaction summary<figure class="table"><table><tbody><tr><td>Issuer:</td><td>Clifford Capital Asset Finance Pte. Ltd</td><td>Clifford Capital Credit Solutions Pte. Ltd.</td></tr><tr><td>Guarantor:</td><td colspan="2">The Government of Singapore (Aaa by Moody’s / AAA by S&amp;P / AAA by Fitch)</td></tr><tr><td>Issue ratings:</td><td>Aaa (Moody’s) / AAA (S&amp;P)</td><td>Aaa (Moody’s) / AAA (S&amp;P)</td></tr><tr><td>Status:</td><td colspan="2">US$ Fixed Rate, Senior Unsecured Guaranteed Notes off US$3.1 billion EMTN Programme</td></tr><tr><td>Format:</td><td colspan="2">Reg S</td></tr><tr><td>Tenor:</td><td>3 years</td><td>5&nbsp;years</td></tr><tr><td>Issue size:</td><td>US$500 million</td><td>US$500 million</td></tr><tr><td>Issue price:</td><td>100.00%</td><td>100.00%</td></tr><tr><td>Coupon:</td><td>3.852%</td><td>4.037%</td></tr><tr><td>Listing:</td><td colspan="2">SGX-ST</td></tr></tbody></table></figure><div class="page" title="Page 1"><div class="layoutArea"><div class="column">CCAF 3Y Distribution by Investor Type Public sector: 22% Banks: 39% Asset managers: 38% Private Banks &amp; Others: 1%Geographical Distribution Asia: 75% Off-shore US: 13% EMEA: 12%CCCS 5Y Distribution by Investor Type Public sector: 37% Banks: 23% Asset managers: 29% Corporates: 8% Private Banks &amp; Others: 3%<div class="page" title="Page 2"><div class="layoutArea"><div class="column">Geographical Distribution Asia: 69% Off-shore US: 22% EMEA: 9%&nbsp;For media enquiries, please contact: Tim Williamson <a href="mailto:CliffordCapital@leoncomms.com">CliffordCapital@leoncomms.com</a> +65 9450 7361&nbsp;About Clifford CapitalFounded in 2012, Clifford Capital is an infrastructure credit platform specialising in global infrastructure debt origination, distribution, and investment. Headquartered in Singapore, Clifford Capital benefits from government guarantees with a policy mandate to support companies with a Singapore nexus.With over US$13.4 billion in cumulative commitments, Clifford Capital delivers innovative financing solutions across energy &amp; utilities, natural resources, industrial &amp; transportation, and social &amp; digital infrastructure sectors.<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=2008784859358699521">View the Press Releases in PDF version</a></div></div></div></div></div></div>

Clifford Capital is proud to have supported SMBC Group's landmark $3.2 billion debut Significant Risk Transfer (SRT) transaction, alongside Blackstone and Stonepeak.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7406187230941130752">here</a>.

Clifford Capital supports SMBC Asia's landmark $3.2 billion debut Synthetic Risk Transfer

<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Clifford Capital is pleased to announce the successful closing of a €60m unsecured green corporate loan facility for Cadeler, a global leader in offshore wind farm construction, maintenance, and decommissioning, supporting the company’s next phase of fleet expansion and growth.<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">&nbsp;<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Find out more&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7403992857826508800">here</a>.&nbsp;

Clifford Capital successfully closes €60m unsecured green corporate loan facility for Cadeler

<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Clifford Capital’s Group CEO, Murli Maiya, joined CNBC last week to discuss key trends shaping infrastructure credit demand across Asia.<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">&nbsp;<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Find out more&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_data-centers-demand-driving-infrastructure-activity-7403640917754052609-Axui?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAABPNES8BnMK9DJYZRtaW8bU8hzwmAR_9wWc">here</a>.&nbsp;

Murli Maiya, Group CEO, discusses the growth drivers for infrastructure credit on CNBC

<span style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);display:inline !important;float:none;font-family:Arial, sans-serif;font-size:13.333333px;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Murli Maiya, CEO of Clifford Capital talks about the growth drivers for infrastructure credit including data centers construction. He also shares how infrastructure investment is moving from cloud-based to AI data centers. Watch the full interview <a style="-webkit-text-stroke-width:0px;font-family:Arial, sans-serif;font-size:13.333333px;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;" target="_blank" rel="noopener noreferrer" href="https://www.cnbc.com/video/2025/12/05/data-centers-huge-driver-infra-credit-demand-clifford-capital.html">here</a><span style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);display:inline !important;float:none;font-family:Arial, sans-serif;font-size:13.333333px;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">.

Data centers demand driving infrastructure credit: Clifford Capital

<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Thank you to everyone who joined us at our inaugural Investor Conference yesterday. We appreciate the strong turnout and thoughtful discussions on the evolving landscape of infrastructure finance, capital mobilisation, and long-term investment opportunities across our markets.<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">&nbsp;<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Find out more&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-investorconference-infrastructurefinance-ugcPost-7401829323206545409-ZDxa?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAABPNES8BnMK9DJYZRtaW8bU8hzwmAR_9wWc">here</a>.&nbsp;

It’s a wrap for our inaugural Investor Conference

<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">BIC VI has won Best Bond Deal (Singapore), Best Project Finance Deal (Singapore), Best Structured Finance Deal (Singapore), and receiving Highly Commended for Best Infrastructure Deal (Singapore).<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">&nbsp;<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Find out more&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7401136570545823745">here</a>.&nbsp;

Bayfront Infrastructure Capital VI (BIC VI) recognised at the FinanceAsia Achievement Awards 2025

<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">The inaugural Clifford Capital Investor Conference is happening on 2 December. If you have been invited and have not yet registered, there is still time to do so. We look forward to seeing you there!<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">&nbsp;<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Helvetica;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Find out more&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7399263215588929536">here</a>.&nbsp;

Less than a week to Clifford Capital Investor Conference 2025

Singapore, 18 November 2025 – Clifford Capital, the Singapore-headquartered infrastructure credit platform, is pleased to announce the successful pricing of Bayfront VII, offering a diversified portfolio of 46 individual project finance and infrastructure loans and bonds spanning 44 projects, 17 countries and 13 industry sub-sectors.With an overall issuance size of US$705.5 million, Bayfront VII is Clifford Capital’s largest public infrastructure asset-backed securities (“IABS”) issuance to date. This brings the total issuance to US$3.4 billion since the first IABS issuance in 2018.Bayfront VII features Clifford Capital’s inaugural issuance in Rule 144A/Reg S format, comprising multiple classes of USD-denominated Senior Secured Floating Rate Notes accessible to US persons (amongst others), which are qualified institutional buyers and qualified purchasers (QIBs/QPs).It is also the first IABS issuance with notes (Class X and Class A Notes) that carry credit ratings from two rating agencies, Moody’s and Fitch. It features a total of US$670.1 million in five classes of Senior Notes, including the debut of Class X notes, created in response to investor demand for short-term investments. The Class X and Class A Notes are rated Aaa (sf) and AAA sf by Moody’s and Fitch respectively. The Class B and Class C Notes are rated Aa3 (sf) and Baa3 (sf) respectively, by Moody's. As with Clifford Capital's prior public IABS issuance, the Class D Notes represent an unrated mezzanine tranche offered on an unguaranteed basis.All the Notes except the Subordinated Notes will be listed on the Singapore Exchange and the issuance complies with the UK Risk Retention Rules, EU Risk Retention Rules and US Risk Retention Rules. BNP Paribas, J.P. Morgan Securities plc and Société Générale were Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers. MUFG Securities Asia Limited and Standard Chartered Bank (Singapore) Limited were Joint Bookrunners and Joint Lead Managers in respect of the IABS issuance.<h4>Overview of the Issuance</h4><figure class="table"><table border="1" cellspacing="0" cellpadding="5"><thead><tr><th>Class</th><th>Amount (US$ million)</th><th>Rating (Moody's)</th><th>Rating (Fitch)</th><th>Spread</th><th>Issue Price</th></tr></thead><tbody><tr><td>Class X</td><td>17.0</td><td>Aaa (sf)</td><td>AAA sf</td><td>105bps</td><td>100%</td></tr><tr><td>Class A</td><td>476.8</td><td>Aaa (sf)</td><td>AAA sf</td><td>128bps</td><td>100%</td></tr><tr><td>Class B</td><td>105.8</td><td>Aa3 (sf)</td><td>Unrated</td><td>160bps</td><td>100%</td></tr><tr><td>Class C</td><td>42.3</td><td>Baa3 (sf)</td><td>Unrated</td><td>295bps</td><td>100%</td></tr><tr><td>Class D</td><td>28.2</td><td>Unrated</td><td>Unrated</td><td>500bps</td><td>100%</td></tr><tr><td>Subordinated</td><td>35.4</td><td>Unrated</td><td>Unrated</td><td>N.A.</td><td>N/A</td></tr><tr><td>Total</td><td>705.5</td><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td></tr></tbody></table></figure>&nbsp;Distribution by Investor Type Banks: 39% Asset managers: 29% Insurance / Pension funds: 23% Securities firms and Private banks: 6% Corporates: 3%Geographical Distribution Asia: 52% North America: 37% EMEA: 11%These materials are for information purposes only. They do not constitute an offer nor an invitation nor a recommendation to subscribe to or to purchase, to hold or sell securities, nor is the information contained herein meant to be complete or to serve as a basis for any kind of obligation, contractual or otherwise. The notes issued by Bayfront IABS VII Pte. Ltd. (the “Notes”) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any state of the U.S. or any other jurisdiction and therefore may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the Securities Act (“Regulation S”)) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the Securities Act and applicable state securities laws of the United States.For media enquiries, please contact: Tim Williamson <a href="mailto:CliffordCapital@leoncomms.com">CliffordCapital@leoncomms.com</a> +65 9450 7361<div class="layoutArea"><div class="column"><a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1990663634367467521">View the Press Release in&nbsp;PDF version</a></div></div>

Clifford Capital prices US$705.5 million infrastructure asset-backed securities

2 more weeks till applications close for our Pathway Internship Programme, a 10-week structured programme that provides practical experience on real-world projects alongside a supportive and dynamic team.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7396016379239424000">here</a>.

2 more weeks until applications close for the 2026 Pathway Internship Programme

Nelly Harapoff spoke on a panel at the Barclays Investor Conference, exploring how private credit is reshaping infrastructure investment in Asia.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7389931613423456258">here</a>.

Nelly Harapoff, Head of Institutional Coverage, speaking at Barclays Investor Conference

Nicholas Tan, Group Head of Markets and Investor Services Clifford Capital, discusses how CLOs will play an important role in the global push to close the infrastructure financing gap.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7386603378631450624">here</a>.

Infrastructure CLOs to be key in closing global financing gap

Nicholas Tan, Group Head of Markets and Investor Services Clifford Capital, discusses how CLOs will play an important role in the global push to close the infrastructure financing gap.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.structuredcreditinvestor.com/news-analysis/clos/84302/sci-in-focus:-infrastructure-clos-to-be-key-in-closing-global-financing-gap">here</a>.

SCI In Focus: Infrastructure CLOs to be key in closing global financing gap

Supriyakumar Sakhalkar, Clifford Capital’s Head of Treasury – Asset &amp; Liability Management, discusses his role, why he chose to pursue a career in Treasury and Asset &amp; Liability Management, and how the function is evolving today.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7384401779700088832">here</a>.

One Minute Q&A with Supriyakumar Sakhalkar, Clifford Capital’s Head of Treasury – Asset & Liability Management

In a recent interview with AsianInvestor, Audra Low, Group Head of Client Coverage, and Nicholas Tan, Group Head of Markets &amp; Investor Services, share our perspectives on infrastructure debt market trends in APAC.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7384042214651432960">here</a>.

Asian investors make infra debt their new defensive play

Clifford Capital’s Pathway Internship Programme is a 10-week summer internship designed to offer penultimate year students a hands-on and immersive experience in the world of global infrastructure financing, where students will have opportunities to learn more about Clifford Capital’s business lines.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7383310226088783872">here</a>.

Applications for Clifford Capital’s 2026 Pathway Internship Programme are now open!

Lily Choh, CEO of Clifford Capital Asset Management, was conferred the IBF Fellow Award in Asset Management by The Institute of Banking and Finance Singapore. The IBF Fellow Award celebrates industry veterans who have demonstrated professional mastery, thought leadership, and a strong commitment to the development of Singapore’s financial industry.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-ibfaward-ibfawards2025-activity-7382242489329467392-UG83?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAABPNES8BnMK9DJYZRtaW8bU8hzwmAR_9wWc">here</a>.

Lily Choh, CEO of Clifford Capital Asset Management, conferred IBF Fellow Award in Asset Management

We are excited to be at the National University of Singapore Career Fest on 9 October. Our team will be sharing more about our business, our Pathway Internship Programme and the career opportunities available with us.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-teamcliffordcapital-nuscareerfest-activity-7379337854981890048-LsYc?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAABPNES8BnMK9DJYZRtaW8bU8hzwmAR_9wWc">here</a>.

Join Clifford Capital at the NUS Career Fest!

We are pleased to announce the appointment of Saumitra Shrivastava as Head of India Coverage at Clifford Capital.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7378993349665603584">here</a>.

Saumitra Shrivastava appointed Head of India Coverage for Clifford Capital

Nelly brings over 20 years of APAC and European experience in structured products, with a focus on leveraged and acquisition finance, project and infrastructure finance, debt capital markets, and restructuring.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-teamcliffordcapital-infrastructurecredit-activity-7378248000193871872-GIww?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAABPNES8BnMK9DJYZRtaW8bU8hzwmAR_9wWc">here</a>.

Nelly Harapoff joins Clifford Capital as Managing Director, Head of Institutional Coverage for Markets and Investor Services

Clifford Capital’s Group CEO, Murli Maiya, participated in a panel at the Middle East-Asia Summit hosted by First Abu Dhabi Bank with industry leaders from SGX, Nomura International, and Indorama.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7377156650362658816">here</a>.

Murli Maiya, Clifford Capital’s Group CEO, discusses the capital flows between Asia and the Middle East

We are pleased to announce the appointment of Youssef Kissane as Managing Director, Credit Risk at Clifford Capital.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7376829837203730432">here</a>.

Clifford Capital welcomes Youssef Kissane as Managing Director of Credit Risk

Eileen Liang, Head of CCG and MIS Compliance, discusses her role at Clifford Capital, the evolving role of compliance, and shares her advice for the next generation of talent.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7374625432731791360">here</a>.

One Minute Q&A with Eileen Liang, Clifford Capital’s Head of CCG and MIS Compliance

Clifford Capital acted as the Mandated Lead Arranger and Bookrunner to close US$2.8 billion syndicated loan for Bridge Data Centres, exemplifying our role as a trusted partner in financing critical digital infrastructure across Asia.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-infrastructurefinance-sustainableinfrastructure-activity-7374364149218422784-wvPU?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAABPNES8BnMK9DJYZRtaW8bU8hzwmAR_9wWc">here</a>.

Clifford Capital closes US$2.8 billion syndicated loan financing for Bridge Data Centres

In a recent interview with Environmental Finance, Murli Maiya, Group CEO of Clifford Capital, stressed the importance of aligning portfolios with sustainability principles, and how the company is committed to supporting sustainable investments in Asia.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7373887390504902656">here</a>.

Murli Maiya, Group CEO of Clifford Capital, discusses the rising demand for sustainable assets

Murli Maiya, Group CEO, Clifford Capital speaks to Environmental Finance on the growing importance of sustainability in infrastructure financing.Read the full article <a target="_blank" rel="noopener noreferrer" href="https://www.environmental-finance.com/content/analysis/unsustainable-infrastructure-wont-make-us-money.html">here</a>.

Clifford Capital’s Group CEO highlights the importance of aligning portfolios with sustainability principles

Clifford Capital Asset Management is pleased to announce a new partnership with Flybridge Capital, an Australia-based business, to distribute asset management products across Australia and New Zealand.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-cliffordcapitalassetmanagement-activity-7368537288697401344-b9b0?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital Asset Management announces partnership with Flybridge Capital

Clifford Capital acted as the Mandated Lead Arranger and Bookrunner for the warehouse revolving facility, delivering a tailored financing solution to support AirTrunk’s expansion in the region.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_airtrunk-datacentre-datacenter-activity-7367108253954002944-Ie00?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital supports A$16 billion sustainable financing package for AirTrunk

Clifford Capital is pleased to announce the successful closing of an up to A$355 million, five-year loan facility for Octa Group (“Octa”), to support the next phase of Octa's growth.Backed by global infrastructure investor I Squared Capital, Octa invests in businesses that accelerate the decarbonisation and energy transition journey for remotely-based hard-to-abate industries.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-infrastructurefinance-sustainableinfrastructure-activity-7365918495563243520-EDJ_?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital announces successful closing of up to A$355 million financing for Octa

Singapore, 26 August 2025&nbsp;- Clifford Capital, the Singapore-headquartered infrastructure credit platform,&nbsp;is pleased to announce the successful closing of an up to A$355 million, five-year loan facility for Octa&nbsp;Group (“Octa”), to support the next phase of Octa's growth.&nbsp;Backed by global infrastructure investor I Squared Capital, Octa invests in businesses that accelerate the&nbsp;decarbonisation and energy transition journey for remotely-based hard-to-abate industries.The loan will fund Octa’s expansion in trucked LNG, renewables and hybrid power, providing reliable energy&nbsp;to remote mining operations not only in Western Australia but across other states and territories in&nbsp;Australia.Clifford Capital is a lender in the facility alongside National Australia Bank and Sumitomo Mitsui&nbsp;Banking Corporation.Audra Low, Group Head of Client Coverage at Clifford Capital, commented: "We are delighted to have&nbsp;the opportunity to support Octa in putting in place the infrastructure needed to help their customers gain&nbsp;access to lower carbon energy. This transaction reinforces our continued focus on enabling real economy&nbsp;impact through bespoke infrastructure financing solutions."Basil Lenzo, CEO of Octa, added: “We are thrilled to have the support of Clifford Capital as we enter our&nbsp;next phase of growth. This funding will allow us to accelerate our efforts in domestic trucked LNG to&nbsp;displace diesel generation including the renewables and thermal hybrid power sector in the region.”For media enquiries, please contact: Tim Williamson, Liz Asri&nbsp; <a href="mailto:CliffordCapital@leoncomms.com">CliffordCapital@leoncomms.com</a> +65 9450 7361, +65 9109 1527View the Press Release in <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1960150103801094145">PDF version</a>

Clifford Capital Announces Successful Closing of up to A$355 Million Financing for Octa Group to Support Growth

We are excited to be at both Singapore Management University (SMU) and Nanyang Business School (NBS) this September to share more about our business, our Pathway Internship Programme, and the career opportunities available with us.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-lifeatcliffordcapital-teamcliffordcapital-activity-7365564728695246848-TSPG?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital at NTU & SMU Career Fairs

Clifford Capital is pleased to announce the successful closing of our second Infrastructure Asset-Backed Securities (IABS) private placement on 19 August 2025.The transaction was issued by Clifford Capital IABS PP 2025-01 Pte. Ltd., with a total deal size of US$200 million comprising of 3 tranches of notes.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_iabs-privateplacement-infrastructurecredit-activity-7363740243755216897-OCer?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital completes second IABS private placement

Ee Lin discusses her role at Clifford Capital, the path that led her into ratings advisory, and the insights she has gained in this field.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7363375270424137729">here</a>

One Minute Q&A with Ee Lin Tan, Clifford Capital’s Head of Ratings Advisory

Clifford Capital is pleased to announce the successful closing of a €200 million Holdco financing for RAILPOOL, one of Europe’s leading rail vehicle leasing companies which is 77% owned by GIC. Clifford Capital is one of the investors in the private placement loan notes, with proceeds used to finance RAILPOOL's ongoing growth.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-infrastructurefinance-sustainableinfrastructure-activity-7361952010700574722-w3Wt?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital closes a €200 million Holdco financing for RAILPOOL

Congratulations to our Pathway Interns on successfully completing the inaugural Clifford Capital Pathway Internship Programme.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7361925733155328000">here</a>

Inaugural Pathway Internship Programme concluded successfully

As we celebrate our nation’s 60 years of progress, we are proud to play a part in building a stronger and resilient future by supporting infrastructure growth across the region.Happy Birthday, Singapore!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_singapore60-sg60-nationaldaysg-activity-7359752330461786113-4nrm?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Happy Birthday, Singapore!

Clifford Capital recently spoke to IFR Asia on their ambition to grow the USD Collaterised Loan Obligations (CLOs) as they continue building momentum as a regular issuer in the global infrastructure finance.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7357949741952913408">here</a>

Clifford Capital seeks CLO growth

We have relocated to our new office at South Beach Tower!Our new address: 38 Beach Road South Beach Tower #19-11 Singapore 189767Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7352866771139260417">here</a>

Clifford Capital’s office has relocated to South Beach Tower

Cleantech Solar, a Singapore-based renewable energy developer, has secured over US $140 million in green financing through two loan transactions from ING and Clifford Capital, according to an announcement.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.dealstreetasia.com/stories/cleantech-solar-ing-clifford-capital-449545">DealStreetAsia</a>

SG's Cleantech Solar secures $140 million green financing from ING, Clifford Capital

Singapore, 17 July 2025 - Clifford Capital, the Singapore-headquartered infrastructure credit platform, is pleased to announce the successful closing of a US$70 million, five-year term loan facility for Cleantech Solar Asia 2 (CSA 2), to support the development of up to 150MWp of commercial and industrial (C&amp;I) solar projects across Southeast Asia.Clifford Capital is a co-lender in the financing alongside ING. The loan proceeds will be used to fund the development of an existing pipeline of greenfield C&amp;I solar projects located in Thailand, Malaysia, Indonesia, Singapore, and Vietnam. The facility also includes a US$30 million greenshoe option to facilitate Cleantech Solar’s future expansion in the region.Audra Low, Group Head of Client Coverage at Clifford Capital, commented: "We are delighted to partner with ING to support Cleantech Solar’s rollout of commercial and industrial solar projects in Southeast Asia. This transaction highlights Clifford Capital’s continued commitment to providing innovative and sustainable financing solutions that enable the growth of clean energy infrastructure in the region."Brian Tan, Group Chief Financial Officer at Cleantech Solar, added: “We are immensely proud to announce the successful closure of a milestone US$70 million green financing from ING APAC and Clifford Capital. This significant funding will accelerate the expansion of our renewable energy C&amp;I portfolio across Southeast Asia, reaffirming our steadfast commitment to sustainable development. This trust from partners like ING and Clifford is a powerful testament to our shared mission: bringing more clean energy to businesses and accelerating the region's vital energy transition.”&nbsp;For media enquiries, please contact: Tim Williamson, Liz Asri <a href="mailto:CliffordCapital@leoncomms.com">CliffordCapital@leoncomms.com</a> +65 9450 7361, +65 9109 1527View the Press Release in <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1945789451540283393">PDF version</a>

Clifford Capital Closes US$70 Million C&I Portfolio Deal with Cleantech Solar

Ted Low discusses his role at Clifford Capital and shares his insights on the megatrends shaping the industry.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7350697301998194688">here</a>

One Minute Q&A with Ted Low, Clifford Capital's Head of Portfolio and Collateral Management

The Singapore Sustainable Finance Association (SSFA) has launched a publication, titled “Guidance for Leveraging the Singapore-Asia Taxonomy in Green and Transition Financing,” which helps translate complex taxonomy concepts into actionable steps, builds market confidence, and supports credible green and transition financing in Southeast Asia.As a participating member, Clifford Capital worked alongside over 20 financial institutions, opinion providers, and industry bodies to co-develop practical solutions for this guidance.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_guidance-for-leveraging-the-singapore-asia-activity-7349266832572243968-441C?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital contributes to the Singapore Sustainable Finance Association’s (SSFA) publication on the Singapore-Asia Taxonomy in Green and Transition Financing

Audra Low, Group Head, Client Coverage at Clifford Capital and CEO of Clifford Capital Credit Solutions Pte. Ltd., recently joined Infra Dig, a podcast series by IJGlobal to share her perspectives on the evolving infrastructure finance landscape across Asia Pacific.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-infrastructurefinance-infrastructurecredit-activity-7348517945276321792-cs5j?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Audra Low discusses APAC infrastructure finance with IJ Global

We’re pleased to welcome Lily Choh to Clifford Capital. Lily will be joining us as CEO of Clifford Capital Asset Management (subject to regulatory approvals) and Group Head of Asset Management in October 2025.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-infrastructurecredit-assetmanagement-activity-7347875916942929922-2jWR?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Lily Choh appointed as Group Head of Asset Management and CEO of Clifford Capital Asset Management

Singapore, 7 July 2025 – Clifford Capital, the Singapore-headquartered infrastructure credit platform, is pleased to announce the appointment of Lily Choh as CEO of Clifford Capital Asset Management (subject to regulatory approvals) and as Group Head of Asset Management. She will join the Management Executive Committee of the Clifford Capital Group. Lily is expected to join the Group in October 2025.Lily brings nearly 30 years of experience in asset management across Asia. She joins Clifford Capital from Schroders Singapore, where she was most recently Head of South Asia and CEO of Singapore. Prior to Schroders, Lily held leadership and investment roles at Mercer and GIC.Clifford Capital announced its expansion into asset management in January 2025, adding a third line of business alongside its existing origination, structuring and distribution business.“We are delighted to welcome Lily to the Group and look forward to her leading and developing the business of our regulated asset management entity,” said Sanjiv Misra, Chairman of Clifford Capital and of Clifford Capital Asset Management.Murli Maiya, Group CEO of Clifford Capital, added: “Lily’s background and expertise will be critical to capitalise on the synergies across our infrastructure credit platform and grow our asset management franchise rapidly. I am excited to welcome her to the Clifford Capital executive management team.”&nbsp;For media enquiries, please contact: Tim Williamson, Liz Asri&nbsp; <a href="mailto:CliffordCapital@leoncomms.com">CliffordCapital@leoncomms.com</a> +65 9450 7361, +65 9109 1527&nbsp;View the Press Release in <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1942104422117179394">PDF version</a>

Clifford Capital Appoints Lily Choh as Group Head of Asset Management and CEO of Clifford Capital Asset Management

She is expected to join the organisation this October.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.businesstimes.com.sg/companies-markets/temasek-backed-clifford-capital-names-lily-choh-ceo-its-asset-management-arm">The Business Times</a>

Temasek-backed Clifford Capital names Lily Choh CEO of its asset management arm

We are proud to share that Clifford Capital has been recognised at The Asset Triple A Sustainable Infrastructure Awards 2025 with two awards.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7347793799210811392">here</a>

Clifford Capital recognised at The Asset Triple A Sustainable Infrastructure Awards 2025

Our Chairman Sanjiv Misra and Group Head of Markets &amp; Investor Services, Nicholas Tan, were in Beijing last week for the 10th Anniversary and Annual Meeting of the Asian Infrastructure Investment Bank (AIIB).Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_aiib2025-privatecapital-infrastructurefinance-activity-7346345380868997120-aRBS?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital's Chairman & Group Head of MIS attend AIIB's Annual Meeting

The legal names of several Clifford Capital entities will be updated with effect from 1 July.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7345617359853768705">here</a>

Change in the legal names of Clifford Capital entities

<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);color:rgb(36, 36, 36);font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web (West European)&quot;, -apple-system, BlinkMacSystemFont, Roboto, &quot;Helvetica Neue&quot;, sans-serif;font-size:15px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;orphans:2;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;" data-olk-copy-source="MessageBody">He will speak on Infrastructure Asset-Backed Securities (IABS) on 25 June and join a panel on private capital mobilisation on 26 June.<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);color:rgb(36, 36, 36);font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web (West European)&quot;, -apple-system, BlinkMacSystemFont, Roboto, &quot;Helvetica Neue&quot;, sans-serif;font-size:15px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;orphans:2;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">&nbsp;<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);color:rgb(36, 36, 36);font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web (West European)&quot;, -apple-system, BlinkMacSystemFont, Roboto, &quot;Helvetica Neue&quot;, sans-serif;font-size:15px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;orphans:2;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">Find out more <a style="border-width:0px;font:inherit;margin:0px;padding:0px;vertical-align:baseline;" target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_aiib2025-privatecapital-infrastructurefinance-activity-7342717862454640641-Iey1?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA" data-auth="NotApplicable" title="https://www.linkedin.com/posts/clifford-capital_aiib2025-privatecapital-infrastructurefinance-activity-7342717862454640641-Iey1?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Nicholas Tan, Group Head, MIS, Clifford Capital, to represent the Group at AIIB's Annual Meeting 2025

<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);color:rgb(36, 36, 36);font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web (West European)&quot;, -apple-system, BlinkMacSystemFont, Roboto, &quot;Helvetica Neue&quot;, sans-serif;font-size:15px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;orphans:2;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;" data-olk-copy-source="MessageBody">Saumitra Shrivastava talks about his role at Clifford Capital and shares his insights on infrastructure investing.<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);color:rgb(36, 36, 36);font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web (West European)&quot;, -apple-system, BlinkMacSystemFont, Roboto, &quot;Helvetica Neue&quot;, sans-serif;font-size:15px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;orphans:2;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">&nbsp;<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);color:rgb(36, 36, 36);font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web (West European)&quot;, -apple-system, BlinkMacSystemFont, Roboto, &quot;Helvetica Neue&quot;, sans-serif;font-size:15px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;orphans:2;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">Find out more <a style="border-width:0px;font:inherit;margin:0px;padding:0px;vertical-align:baseline;" target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-teamcliffordcapital-infrastructurecredit-activity-7340550907442405377-MboX?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA" data-auth="NotApplicable" title="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-teamcliffordcapital-infrastructurecredit-activity-7340550907442405377-MboX?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA" data-linkindex="3">here</a>

One Minute Q&A with Saumitra Shrivastava, Clifford Capital's Head of Institutional Coverage

We are excited to launch the inaugural Clifford Capital Pathway Internship Programme this June! The 10-week programme offers an immersive, hands-on experience in global infrastructure financing.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-lifeatcliffordcapital-teamcliffordcapital-activity-7338008828111745024--xVi?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital Pathway Internship Programme launched

This report marks a significant milestone for our organisation. It reflects the progress we have made over the past year and also showcases our values, partnerships and purpose that continue to guide our work.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.cliffordcapital.sg/investors/annualReports">here</a>.

Clifford Capital’s inaugural Annual Report released

In a recent article on AsianInvestor, we share our perspectives on why infrastructure debt matters for long-term investors.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_bank-retreat-spurs-infrastructure-debt-interest-activity-7332574479404961792--A6g?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Bank retreat spurs infrastructure debt interest in Asia

Dionne Lim shares her insights on talent management, what her role means to her, and advice for those looking to grow in Human Resources (HR).Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7330403856712892416">here</a>

One Minute Q&A with Dionne Lim, Clifford Capital’s Head of Talent & HR Delivery

Clifford Capital today announced the successful financial close of project financing for BDx Data Centers' first dedicated data centre, HKG8, in Hong Kong.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-teamcliffordcapital-infrastructurecredit-activity-7327961082960982017-vUO3?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital announces financial close on BDx Hong Kong Data Centre

Clifford Capital Group CEO Murli Maiya spoke on a panel at the AIIB–Ministry of Finance lead-up event to the 10th AIIB Annual Meeting on 6 May.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7325774038352515072">here</a>

Clifford Capital Group CEO participated in a panel discussion at the AIIB–Ministry of Finance event

Vid will be representing Clifford Capital on a panel on 8 May at Ecosperity’s partner event “Mobilising Capital for Blended Finance in Asia”.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7325686093578719233/">here</a>

Vidyasagar (Vid) Pulavarti, CIO, Clifford Capital Asset Management, to participate in Ecosperity’s partner event on Blended Finance

Clifford Capital CEO Murli Maiya shares his insights on Asian investors’ active involvement in infrastructure debt markets, especially in the US and Europe.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-infrastructurecredit-asianinvestors-activity-7325036380990906368-Bebb?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital Group CEO on Asian investors and infrastructure debt markets

Nicholas Tan, our Group Head of Markets &amp; Investor Services and CEO of Bayfront Infrastructure, will be speaking at the Global ABS Conference in Barcelona on 10 June.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_globalabs-infrastructurefinance-projectfinance-activity-7323217352139964416-ScZ3?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Nicholas Tan, Group Head of MIS, to speak at the Global ABS Conference, Barcelona

Clifford Capital CEO Murli Maiya shares his insights on Asian investors’ active involvement in infrastructure debt markets, especially in the US and Europe.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.asianinvestor.net/article/apac-insurers-turn-to-european-infra-debt-for-growth/502199">Asian Investor</a>

APAC insurers turn to European infra debt for growth

Happy Administrative Professionals' Day to our incredible Office Management team, who keep everything running smoothly behind the scenes! Thank you for all that you do!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_adminprofessionalsday-thankyou-cliffordcapital-activity-7320940019576098817-XfxW?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Happy Administrative Professionals’ Day to Clifford Capital's Office Management team!

Sebastian Ong talks about technology trends, leadership and building digital systems that matter.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-teamcliffordcapital-infrastructurecredit-activity-7317719626098823169-sT5F?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

One Minute Q&A with Sebastian Ong, Clifford Capital’s Group Head of Technology

Clifford Capital is proud to have taken home the APAC Bond of the Year Award at the IJGlobal Awards held at Singapore’s Raffles Hotel this week. We were recognised for our Bayfront Infrastructure Capital V (BIC V) issuance - our fifth successful Infrastructure Asset-Backed Securities (IABS) transaction. Clifford Capital Markets &amp; Investor Services, represented by <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/in/nicholas-tan-797a49110/">Nicholas Tan</a> and <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/in/bryan-woon-zy/">Bryan Woon</a>, picked up the award.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_iabs-infrastructurecredit-asia-activity-7316279656679149571-tzqK?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital wins the APAC Bond of the Year Award at the IJGlobal Awards

On the joyous occasion of Eid-ul-Fitr (Aidilfitri), we came together to share some delicious food and appreciate the spirit of community at <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/hashtag/?keywords=cliffordcapital&amp;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A7312759485280751616" download="file">#CliffordCapital</a>. Selamat Hari Raya Aidilfitri &amp; Eid Mubarak to all who celebrate!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-lifeatcliffordcapital-teamcliffordcapital-activity-7312759485280751616-5RmE?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Celebrating Hari Raya Puasa at Clifford Capital

Q: What is your role at Clifford Capital? A: I am an Executive Director with the Group Risk function. Reporting to the Chief Risk Officer, I lead ESG and Climate Risk, Operational Risk and other areas of Non-Financial Risk.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_risk-infrastructure-transition-activity-7308306296259207168-9Rei?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

One Minute Q&A with Kellie Chua, Clifford Capital’s Executive Director, Group Risk

Issuance significantly oversubscribed, attracted various institutional investors, 44% of portfolio green, social assetsFind out more in <a target="_blank" rel="noopener noreferrer" href="https://www.theasset.com/article/53618/clifford-prices-us527-million-infra-asset-backed-securities">The Asset</a>

Clifford prices US$527 million infra asset-backed securities

Clifford Capital prices US$527 million infrastructure asset-backed securities

We have another proud moment this week as Clifford Capital received two awards at the <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/company/financeasia/">FinanceAsia</a> Achievement Awards 2024 in Hong Kong. Clifford Capital Markets &amp; Investor Services, represented by <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/in/nicholas-tan-797a49110/">Nicholas Tan</a> and <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/in/bryan-woon-zy/">Bryan Woon</a>, picked up two awards for Bayfront Infrastructure Capital V (“BIC V”). They were: Best Project Finance Deal - APAC and Singapore (Winner) Best ESG Issuer - APAC&nbsp;(Highly Commended) FinanceAsia’s Achievement Awards recognise accomplishments in the financial sector across the Asia Pacific and as usual, the competition was fierce.&nbsp; Congratulations to all the winners, and finalists, and to the entire team at Clifford Capital Markets &amp; Investor Services for once again demonstrating the firm’s&nbsp;capability in offering high-quality infrastructure debt products&nbsp;to help bridge the infrastructure financing gap in the Asia Pacific!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-iabs-awards-activity-7301036181838868480-h_3R?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital wins two awards at the FinanceAsia Achievement Awards 2024

Last Friday, our Clifford Capital team gathered at Sentosa for a day of fun, teamwork and friendly competition! We kicked things off with&nbsp;energizing icebreakers&nbsp;before diving into an exciting island-wide Monopoly Challenge, where teams battled it out for attractive prizes! We wrapped up the day with a delightful dinner at Quayside Isle, celebrating our achievements and strengthening our bonds! Here’s to more unforgettable team moments!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_lifeatcliffordcapital-teamcliffordcapital-activity-7299619090145366016-yJYM?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Team Building at Clifford Capital

In this podcast with LSE Focal Point, Audra Low, the CEO of Clifford Capital Private Limited, dives into the shifting dynamics of infrastructure debt financing, the role of institutional capital in bridging funding gaps, and the key areas shaping Asia’s infrastructure sector.Find out more on&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://open.spotify.com/episode/705VuVH6RC5g5DOqs9JUdN">LSE Focal Point</a>

A Conversation with Audra Low

Q: What does your role entail at Clifford Capital?&nbsp; A: Our team is responsible for client coverage, originating, structuring and executing all types of debt transactions in the Energy and Utilities sector for the platform.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7298151979963273219">here</a>

One Minute Q&A with Sophea Seng, Clifford Capital’s Head of Energy & Utilities, Client Coverage Group

Clifford Capital’s <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/in/audra-low-0137a257/">Audra Low</a> spoke recently with Bioenergy Insight about investments in renewable projects and sustainable transition. In July last year, <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/company/clifford-capital/">Clifford Capital</a> and <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/company/pentagreen/">Pentagreen Capital</a> announced a joint green loan collaboration to support BECIS Bioenergy in bioenergy projects in Southeast Asia.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/feed/update/urn:li:activity:7297857445903708160">here</a>

Audra Low’s interview with Bioenergy Insight about investments in renewable projects and sustainable transition

Audra Low, Group Head of Client Coverage at Clifford Capital, explains investment prospects in Southeast Asia in this interview.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.bioenergy-news.com/news/clifford-capital-looks-to-fill-singapores-infrastructure-financing-gaps/">Bioenergy Insight</a>

Clifford Capital looks to fill Singapore’s “infrastructure financing gaps”

The Group has obtained first-time, long-term issuer credit ratings of AAA, AA+, and Aa1 from Fitch Ratings, S&amp;P Global Ratings and Moody’s Ratings, respectively with a Stable outlook. The ratings reflect the agencies’ views that Clifford Capital benefits from ongoing and strong government support, given its public policy mandates and close linkage with the Singapore Government. This includes the government’s guarantees on debt at its key operating subsidiaries and effective oversight over the Group.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_clifford-capital-is-pleased-to-announce-another-activity-7295710843550253056-uoBa?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAdDyJABLXwXBAH0SqyCsGnUxHJwuWwRbfA">here</a>

Clifford Capital announces another milestone

<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Singapore, 13th February 2025 – Clifford Capital Holdings is pleased to announce that the Group has obtained first-time, long-term issuer credit ratings of AAA, AA+, and Aa1 from Fitch Ratings, S&amp;P Global Ratings and Moody’s Ratings, respectively. The outlook on the ratings is Stable.<o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;"><o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">S&amp;P and Moody’s have also assigned standalone assessments of bbb and baa2, respectively, to the Group.<o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;"><o:p></o:p><figure class="table"><table class="MsoNormalTable" style="-webkit-text-stroke-width:0px;border-collapse:collapse;caret-color:rgb(0, 0, 0);font-family:Helvetica;letter-spacing:normal;margin-left:14.7pt;orphans:auto;text-decoration:none;text-transform:none;widows:auto;word-spacing:0px;" border="0" cellspacing="0" cellpadding="0"><tbody><tr><td style="border-color:windowtext;border-width:1pt;padding:0cm 5.4pt;vertical-align:top;width:198.25pt;" width="264"><o:p></o:p></td><td style="background-color:rgb(218, 233, 247);border-bottom:1pt solid windowtext;border-image:none;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:1pt solid windowtext;padding:0cm 5.4pt;vertical-align:top;width:80.55pt;" width="107">Fitch<o:p></o:p></td><td style="background-color:rgb(218, 233, 247);border-bottom:1pt solid windowtext;border-image:none;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:1pt solid windowtext;padding:0cm 5.4pt;vertical-align:top;width:80.55pt;" width="107">S&amp;P<o:p></o:p></td><td style="background-color:rgb(218, 233, 247);border-bottom:1pt solid windowtext;border-image:none;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:1pt solid windowtext;padding:0cm 5.4pt;vertical-align:top;width:77.65pt;" width="104">Moody’s<o:p></o:p></td></tr><tr><td style="border-bottom:1pt solid windowtext;border-image:none;border-left:1pt solid windowtext;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:198.25pt;" width="264">Long-term issuer rating<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:80.55pt;" width="107">AAA / Stable<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:80.55pt;" width="107">AA+ / Stable<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:77.65pt;" width="104">Aa1 / Stable<o:p></o:p></td></tr><tr><td style="border-bottom:1pt solid windowtext;border-image:none;border-left:1pt solid windowtext;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:198.25pt;" width="264">Short-term issuer rating<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:80.55pt;" width="107">F1+<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:80.55pt;" width="107">A-1+<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:77.65pt;" width="104">P-1<o:p></o:p></td></tr><tr><td style="border-bottom:1pt solid windowtext;border-image:none;border-left:1pt solid windowtext;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:198.25pt;" width="264">Standalone assessment<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:80.55pt;" width="107">-<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:80.55pt;" width="107">bbb<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:77.65pt;" width="104">baa2<o:p></o:p></td></tr><tr><td style="border-bottom:1pt solid windowtext;border-image:none;border-left:1pt solid windowtext;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:198.25pt;" width="264">Singapore Government rating<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:80.55pt;" width="107">AAA / Stable<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:80.55pt;" width="107">AAA / Stable<o:p></o:p></td><td style="border-bottom:1pt solid windowtext;border-left:medium none currentcolor;border-right:1pt solid windowtext;border-top:medium none currentcolor;padding:0cm 5.4pt;vertical-align:top;width:77.65pt;" width="104">Aaa / Stable<o:p></o:p></td></tr></tbody></table></figure><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;"><o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">The ratings reflect the agencies’ views that Clifford Capital benefits from ongoing and strong government support, given its public policy mandates and close linkage with the Singapore Government. This linkage is driven by the government’s guarantees on debt at its key operating subsidiaries and effective oversight over the Group. As such, Fitch equalised Clifford Capital’s rating with the Singapore Government’s, while S&amp;P and Moody’s ratings are 7 notches above the Group’s standalone assessments.<o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;"><o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">S&amp;P and Moody’s also highlighted the Group’s robust capitalisation, strong liquidity and funding positions, as well as improving asset quality.&nbsp;<o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;"><o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Clifford Capital’s Group Chief Executive Officer, Murli Maiya said, “Achieving ratings&nbsp; closely aligned with Singapore’s sovereign ratings underscores the important role Clifford Capital plays in supporting Singapore-based companies’ overseas expansion, and in positioning Singapore as Asia’s infrastructure financing hub.”<o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;"><o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Herman Wijaya, the Group’s Chief Financial Officer added, “The ratings position us well to scale our business further and provide greater transparency to investors and creditors. They allow the Group to broaden funding sources, promote more efficient liquidity management, and support the development of new products and services.”<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">&nbsp;<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">For media enquiries, please contact:<o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">Tim Williamson&nbsp;&nbsp; <a style="color:rgb(70, 120, 134);text-decoration:underline;" href="mailto:CliffordCapital@leoncomms.com">CliffordCapital@leoncomms.com</a> +65 9450 7361<o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;"><o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;"><o:p></o:p><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">&nbsp;<p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">View the Press Release in <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1889949011767693313">PDF version</a><p class="MsoNormal" style="-webkit-text-stroke-width:0px;caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0);font-family:Aptos, sans-serif;font-size:12pt;font-style:normal;font-variant-caps:normal;font-weight:400;letter-spacing:normal;margin:0cm;orphans:auto;text-align:start;text-decoration:none;text-indent:0px;text-transform:none;white-space:normal;widows:auto;word-spacing:0px;">&nbsp;

Clifford Capital Holdings achieves top-tier credit ratings from global agencies

We had a wonderful time yesterday, ushering in the Lunar New Year with an energetic lion dance performance in our office, bringing prosperity and good fortune. The celebration continued over a delightful lunch where we enjoyed festive dishes while playing games and solving CNY quizzes! Wishing everyone a prosperous and joyful year ahead!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-teamcliffordcapital-lunarnewyear-activity-7292714292452151296-YaDR?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital ushers in the Lunar New Year with an energetic lion dance performance, lunch and Lo Hei

Clifford Capital CEO Murli Maiya spoke to Infrastructure Investor about the firm’s expansion into asset management.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-infrastructurecredit-sustainableinfrastructure-activity-7291995116221710336-PLz0?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital CEO Murli Maiya on the firm’s expansion into asset management

“Our skills are niche, but the market opportunity is enormous,” CEO Murli Maiya tells Infrastructure Investor, as the firm eyes management of $2bn energy transition fund.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.infrastructureinvestor.com/temasek-backed-clifford-capital-expands-into-asset-management/">Infrastructure Investor</a>

Temasek-backed Clifford Capital expands into asset management

Q: What are your responsibilities as the Group Chief Risk Officer at Clifford Capital?A: I’m responsible for overseeing the areas of risk – credit, liquidity, operational, reputational – that any financial institution has to grapple with. However, since Clifford Capital primarily finances long-dated infrastructure projects, I spend a lot of my time evaluating whether what makes sense today will still be a viable investment in ten or fifteen years’ time.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_workplace-compliance-infrastructure-activity-7286910305392082944-DAjL?utm_source=share&amp;utm_medium=member_desktop">here</a>

One Minute Q&A with Richard Cox, Clifford Capital’s Group Chief Risk Officer

Singapore, 9th January 2025 – Clifford Capital, the Singapore-headquartered infrastructure credit platform, priced a 5-Year US$500 million fixed-rate public bond offering on Tuesday, 7th January.Priced at par, with an all-in coupon of 4.781%, the pricing corresponds to a spread of 35 basis points over the 5-year US Treasury.The bond is unconditionally and irrevocably guaranteed by the Government of Singapore and has been assigned the highest issue rating of AAA by Standard &amp; Poor’s. HSBC, JP Morgan and Standard Chartered Bank were Global Coordinators and ANZ, Société Générale and UBS were Joint Lead Managers for the transaction.Following this transaction, Clifford Capital, through its subsidiary Clifford Capital Pte. Ltd., has a total outstanding issuance of USD 2.1bn.The offering was significantly oversubscribed, attracting high-quality investors including public sector, banks, asset managers, corporates and private banks from Asia, the Off-shore United States and Europe.Transaction Summary Issuer:&nbsp; Clifford Capital Pte. Ltd.&nbsp; Guarantor: The Government of Singapore (Aaa / AAA / AAA) (Moody’s/S&amp;P/ Fitch)&nbsp;&nbsp;&nbsp; Issue Rating: AAA (S&amp;P)&nbsp;&nbsp; Status: Senior Unsecured&nbsp; Format: Reg S&nbsp;&nbsp; Tenor: 5 years&nbsp; Issue Size: US$ 500 million&nbsp; Issue Date: 14 January 2025&nbsp; Maturity Date: 14 January 2030&nbsp; Issue Price: 100.00%&nbsp; Coupon: 4.781%&nbsp;&nbsp;&nbsp;&nbsp; Listing: SGX Listing&nbsp;Distribution by Investor Type&nbsp; Public Sector: &nbsp;40%&nbsp;&nbsp;&nbsp;&nbsp; Banks: 32%&nbsp; Asset managers &amp; corporates: 27%&nbsp; Private Banks &amp; Others: 1%&nbsp;&nbsp;Geographical Distribution&nbsp; Asia: 79%&nbsp; Off-shore US: 15% EMEA: 6%For media enquiries, please contact:Tim Williamson&nbsp; <a href="mailto:CliffordCapital@leoncomms.com">CliffordCapital@leoncomms.com</a> +65 9450 7361&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1877249445264003074">View the Press Release in PDF version</a>

Clifford Capital prices US$500 million 5-year public bond offering

Clifford Capital priced a 5-Year US$500 million fixed-rate public bond offering this week. Priced at par, with an all-in coupon of 4.781%, the pricing corresponds to a spread of 35 basis points over the 5-year US Treasury and attracted strong investor interest.&nbsp;Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_clifford-capital-priced-a-5-year-us500-million-activity-7283009844435959813-NwME?utm_source=share&amp;utm_medium=member_desktop">here</a>

Singapore-headquartered infrastructure credit firm Clifford Capital said on Monday that it has appointed Vidyasagar Pulavarti as chief investment officer of its new asset management business, Clifford Capital Asset Management.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://sg.finance.yahoo.com/news/moves-clifford-capital-appoints-vidyasagar-023536179.html">Yahoo! Finance</a>

MOVES-Clifford Capital appoints Vidyasagar Pulavarti as CIO of new asset management business

Singapore-headquartered infrastructure credit platform Clifford Capital has added a business line by expanding into asset management.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.finews.asia/people/42569-clifford-capital-asset-management-vidyasagar-pulavarti-infrastructure-credit-singapore">Finews.Asia</a>

Clifford Capital enters Asset Management industry

The Singapore-based firm has also appointed a chief investment officer for the new operation.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://fundselectorasia.com/clifford-capital-adds-asset-management-business/">Fund Selector Asia</a>

Clifford Capital adds asset management business

Vidyasagar Pulavarti named chief investment officer of the new businessFind out more in <a target="_blank" rel="noopener noreferrer" href="https://www.theasset.com/article/53166/clifford-capital-expands-into-asset-management">The Asset</a>

Clifford Capital expands into asset management

Singapore-based Clifford Capital expands its reach with a new asset management arm and names chief investment officer.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.privatebankerinternational.com/news/clifford-capital-launches-asset-management-unit/">Private Banker International</a>

Clifford Capital launches asset management unit

Vidyasagar Pulavarti&nbsp;joined Clifford Capital on Jan. 6 as chief investment officer of Clifford Capital Asset Management, a newly launched arm of the business, according to a statement on Jan. 6.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.pionline.com/alternatives/singapores-clifford-capital-names-vidyasagar-pulavarti-cio-new-asset-management-unit">Pensions &amp; Investments</a>

Singapore’s Clifford Capital names CIO as it expands into asset management

Today, we have announced our expansion into asset management, with the creation of Clifford Capital Asset Management. We also welcome <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/in/vidyasagar-vid-pulavarti-75120a1/">Vidyasagar (Vid) Pulavarti</a> as Chief Investment Officer. Vid brings over 20 years of global credit and investment management experience to the role. This exciting expansion will be a third line of business for Clifford Capital, complementing our origination and structuring, and distribution businesses.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_media-centre-at-clifford-capital-activity-7281853816331780098-frtk?utm_source=share&amp;utm_medium=member_desktop">here</a>

News

2026

Murli Maiya, Group CEO at Clifford Capital on The Business Times

Lily Choh, Group Head of Asset Management at Clifford Capital in AsianInvestor

2025

2024

2023

2022

2021

2020

2019

2017