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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

Singapore, 6 January 2025 – Clifford Capital, the Singapore-headquartered, infrastructure credit platform, has today announced its expansion into asset management. The company also announced the appointment of Vidyasagar ("Vid") Pulavarti as Chief Investment Officer of Clifford Capital Asset Management (CCAM).CCAM will be a third line of business for Clifford Capital, complementing its origination and structuring, and distribution business. &nbsp;Clifford Capital is also in discussions with the Monetary Authority of Singapore (MAS) to manage the Energy Transition Acceleration Finance (ETAF) partnership as recently announced at COP29.Vid, who joins CCAM on 6 January 2025, brings over 20 years of global credit and investment management experience. He most recently served as Managing Director of APAC Credit at Apollo Global Management, where he established the firm's pan-Asia Pacific private credit business. His career includes senior positions at various financial institutions such as Commonwealth Bank of Australia, Citibank and JPMorgan Chase."The establishment of CCAM represents a significant milestone in our evolution as an infrastructure credit platform," said Sanjiv Misra, Chairman of CCAM and Clifford Capital. "Vid’s appointment, combined with our integrated approach across corporate origination, underwriting, distribution and institutional services, positions us well to scale our business, positively impact our clients and help develop institutional markets in the sustainable infrastructure space," said Murli Maiya, Chief Executive Officer of Clifford Capital.For media enquiries, please contact: Tim Williamson <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=1877250152960528386">View the Press Release in PDF version</a>

Clifford Capital Expands into Asset Management and Appoints Vidyasagar (Vid) Pulavarti as Chief Investment Officer

Singapore, 3rd January 2025 - Clifford Capital Group today announced the appointment of Sophea Seng as Managing Director and Head of Energy &amp; Utilities. She will report to Audra Low, who heads Client Coverage for the group.Sophea joins the group from Societe General, where she ran the South &amp; South-East Asia energy financing practice. She has over 17 years of experience in the industry and brings deep insights into the development of energy transition themes in the region. She began her career at Deloitte in Sydney and has worked across Australia, Hong Kong and Singapore.“Sophea brings wide-ranging experience in a high growth and rapidly transitioning energy sector to Clifford Capital, and we are delighted to have her on board,” said Audra Low. Murli Maiya, Group CEO added, "We continue to invest in hiring top tier talent in the industry, as we build out our infrastructure credit platform across the region."For media enquiries, please contact: Tim Williamson <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=1877250352299020289">View the Press Release in PDF version</a>

Clifford Capital Appoints Sophea Seng as Head of Energy & Utilities

We had a great time at our Clifford Capital Wellness Day yesterday, with health screenings, flu vaccinations and a Wellness bazaar. A key highlight was a session on creating a Will &amp; Lasting Power of Attorney by Patrick Chang, highlighting the importance of planning for the unforeseeable in advance! Thanks to our amazing HR team who organised this event and everyone who contributed to making this such a success — we look forward to more opportunities to support our team’s well-being!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_wellnessatwork-employeewellbeing-healthandwellness-activity-7262640759051288576-530l?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital organises its inaugural Wellness Day

Clifford Capital Group CEO, Murli Maiya, was delighted to share more details about the new Energy Transition Acceleration Finance partnership (ETAF) at hashtag#COP29 in Baku as part of the MAS’s update on Financing Asia’s Transition Partnership (FAST-P). This was followed by a Q&amp;A session moderated by MAS Chief Sustainability Officer Gillian Koh Tan. ETAF is a groundbreaking collaboration between Singapore, the Asian Development Bank (ADB) and the Global Energy Alliance for People and Planet (GEAPP) that will focus on catalysing investments in: - Early retirement of coal-fired plants (including other fossil fuel power generation) - Clean/ renewable energy development - Grid modernisation projects across Asia Building on our deep expertise in Asian infrastructure financing, we're in discussions with MAS to manage this initiative which aims to drive meaningful progress in the region's clean energy transition. Looking forward to leveraging our experience and networks to mobilise capital for sustainable infrastructure development in emerging Asia. Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cop29-sustainablefinance-energytransition-activity-7263107193950879744-42iG?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital Group CEO, Murli Maiya, shared details about the new ETAF at COP29

Yesterday, our Client Coverage team took on the Bloomberg Square Mile Relay at The Promontory! With teamwork and a competitive spirit, we raced for glory and had an amazing time. A huge shoutout to our incredible team for their camaraderie! This year, 157 teams from Singapore’s top businesses participated, sprinting together to support SportCares, a charity for sport-based programmes.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_yesterday-our-client-coverage-team-took-activity-7255407277690531842-XBCw?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital's Client Coverage team participates in the Bloomberg Square Mile Relay!

The Risk team at Clifford Capital recently volunteered at the Soup Kitchen @ Willing Hearts, a local charity delivering free meals and other support services to the needy and marginalised. Our colleagues rolled up their sleeves and took on a variety of tasks, from chopping vegetables to cleaning and packing flour. We are thankful for the opportunity to make a difference!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_communitysupport-teamwork-cliffordcapital-activity-7255118260067573760-Hk3b?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital's Risk team volunteers with Willing Hearts

One minute Q&amp;A with David Moffat, Group General Counsel, Clifford CapitalFind out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_one-minute-qa-with-david-moffat-group-general-activity-7254691025229697036-6P5e?utm_source=share&amp;utm_medium=member_desktop">here</a>

LinkedIn Spotlight: David Moffat, Group General Counsel

Clifford Capital team came together for a delightful Deepavali treat, embracing the spirit of this vibrant festival. Wishing everyone a happy Deepavali!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_clifford-capital-team-came-together-for-a-activity-7252531053939040256-4Aue?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital celebrates Deepavali

Yesterday, our team had a truly rewarding experience volunteering at St Luke's ElderCare Active Ageing Centre (Care) @ Ayer Rajah. We had a wonderful time engaging with the elders through batik painting and sharing a delightful tea break. It was a day filled with creativity and meaningful connections, reminding us of the importance of giving back to our community. We’re looking forward to more enriching moments together!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_communityservice-teamwork-corporateresponsibility-activity-7250384898551656448-yb8O?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital team volunteers at St Luke's ElderCare Active Ageing Centre (Care) @ Ayer Rajah

Singapore, 2 October 2024 – Clifford Capital is pleased to announce the successful closing of a US$248 million financing for GIP EM Ascend 2 Pte. Ltd., a Singapore-based company owned by Global Infrastructure Partners.For more details, please refer to the <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1858711646657003522" download="file">press release</a>.

Clifford Capital announces US$248m Sustainability Linked Financing for Indian Telecom Tower Operator

This week members of the Clifford Capital team had the pleasure of volunteering with AWWA Ltd. AWWA supports the integration and inclusion of children with developmental needs, families with complex social issues, the elderly, and persons with additional needs so that they may live out their various dreams and aspirations.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_cliffordcapital-awwa-givingback-activity-7245241308598939650-6voP?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital team volunteers with AWWA 

One minute Q&amp;A with Lily Low, Chief of Staff, Clifford CapitalFind out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_one-minute-qa-with-lily-low-chief-of-staff-activity-7244535021162668032-HDRH?utm_source=share&amp;utm_medium=member_desktop">here</a>

LinkedIn Spotlight: Lily Low, Chief of Staff

Clifford Capital and Pentagreen Capital have provided joint financing for BECIS Bioenergy (BECIS).Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.bioenergy-news.com/news/becis-bioenergy-receives-30m-financing-package/">Bioenergy News</a>

BECIS Bioenergy receives 30m financing package

Celebrating Singapore's 59th Birthday at Clifford Capital!We marked this special occasion with a get-together session filled with joy &amp; unity. From indulging in delicious treats to a heartfelt &amp; unanimous recitation of the Singapore pledge, we reminded ourselves of our commitment to being one united people regardless of race, language or religion!&nbsp;Happy National Day, everyone! Let's continue to build a nation we're proud of!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_nationalday-onesingapore-unityindiversity-activity-7226753930062446595-uIZp?utm_source=share&amp;utm_medium=member_desktop">here</a>

Celebrating Singapore's 59th Birthday at Clifford Capital!

One minute Q&amp;A with Bryan WoonFind out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_iabs-decarbonisation-infrastructure-activity-7226396615106801664-qaYX?utm_source=share&amp;utm_medium=member_desktop">here</a>

LinkedIn Spotlight: Bryan Woon, Head of Capital Markets Structuring & Distribution, Markets & Investor Services

Despite the challenges, collaboration and energy transition remain as the focus of climate transition journey of VietnamFind out more in <a target="_blank" rel="noopener noreferrer" href="https://en.vneconomy.vn/collaboration-and-energy-transition-remain-as-the-focus-of-climate-transition-journey.htm">VN Economy</a>

Collaboration and energy transition remain as the focus of climate transition journey

Clifford Capital’s Bryan Woon recently took part in the IFR Asia ESG Bond and Loan Financing Roundtables in Singapore to talk about sustainable financing and infrastructure asset-backed securities (IABS). Bryan explained that uniquely sustainable tranches in IABS issuances are 100% allocated to sustainable and social projects from day one.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_ifr-asia-esg-bond-and-loan-financing-roundtables-activity-7224601586570776576-3inE?utm_source=share&amp;utm_medium=member_desktop">here</a>

Bryan Woon, Head of Capital Markets Structuring & Distribution, participated in the IFR Asia ESG Bond and Loan Financing Roundtables in Singapore

Clifford Capital is pleased to be one of eight participants in Seatrium’s groundbreaking S$1.1 billion Committed Global Syndicated Bank Guarantee (BG). The syndicated BG facility is the first of its kind in Singapore’s offshore and marine industry and will support Seatrium’s project needs for future business growth. Congratulations to Adrian T. and the team at Seatrium!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_sustainable-weareseatrium-bankguarantee-activity-7224211845505564673-JFlz?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital participates in Seatrium’s groundbreaking S$1.1 billion Committed Global Syndicated Bank Guarantee (BG)

Our Group CEO, Murli Maiya, recently shared with FinanceAsia on how Clifford Capital is scaling the infrastructure debt financing landscape.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_clifford-capitals-ceo-on-scaling-infrastructure-activity-7219191020817637376-quBI?utm_source=share&amp;utm_medium=member_desktop">here</a>

Murli Maiya, Group CEO, shared with FinanceAsia on how Clifford Capital is scaling the infrastructure debt financing landscape

Group chief executive officer P. Murlidhar (Murli) Maiya recently discussed the infrastructure debt financing landscape and its scalability with FinanceAsia.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.financeasia.com/article/clifford-capitals-ceo-on-scaling-infrastructure-debt-financing/497219">Finance Asia</a>

Clifford Capital's CEO on scaling infratructure debt financing

Singapore, 11 July 2024 – Clifford Capital is pleased to announce the successful pricing of its fifth public infrastructure asset-backed securities (“IABS”) transaction and its largest to date. Bayfront Infrastructure Capital V (“BIC V”) is a wholly owned and newly incorporated distribution vehicle of Bayfront Infrastructure Management Pte. Ltd. (“Bayfront”), a subsidiary of Clifford Capital that also includes the Asian Infrastructure Investment Bank (“AIIB”) as a shareholder.For more details, please refer to the&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862068290992398338">press release</a>.

Clifford Capital prices US$508.3 million infrastructure asset-backed securities through Bayfront Infrastructure Capital V (“BIC V”)

Singapore, 11 July 2024 – Clifford Capital is pleased to announce the successful pricing of Bayfront Infrastructure Capital V (“BIC V”), its fifth public infrastructure asset-backed securities (“IABS”) transaction and its largest to date.For more details, please refer to the <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1858710124682493953" download="file">press release</a>.

Clifford Capital prices US$508.3 million infrastructure asset-backed securities

Singaporean distributed energy solutions provider BECIS Commercial Industrial Solutions Holding Pte Ltd (BECIS) has secured a loan of USD 30 million (EUR 27.7m) to support the deployment of bioenergy projects across Southeast Asia and India.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://renewablesnow.com/news/becis-obtains-usd-30m-for-bioenergy-projects-in-se-asia-india-862610/">Renewables Now</a>

BECIS obtains USD 30m for bioenergy projects in SE Asia, India

Clifford Capital, an infrastructure financing platform, and Pentagreen Capital, the sustainable infrastructure debt financing platform established by HSBC and Temasek, today announced a joint green loan collaboration of US$30 million with BE C&amp;I Solutions Holding Pte. Ltd. to catalyse the construction of distributed sustainable bioenergy projects across Southeast Asia and India.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://bioenergytimes.com/clifford-capital-and-pentagreen-capital-announce-us30-million-green-loan-collaboration-with-becis-to-support-bioenergy-projects-in-southeast-asia-and-india/">Bioenergy Times</a>

Joint green loan collaboration of US$30 million announced to support bioenergy projects in Southeast Asia and India

Infrastructure financing platform Clifford Capital and sustainable infrastructure debt financing platform Pentagreen Capital established by HSBC and Temasek have announced a joint green loan collaboration of US$30 million ($40.5 million) with BE C&amp;I Solutions (BECIS).Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.theedgesingapore.com/news/green-loans/clifford-capital-and-pentagreen-capital-announce-us30-mil-green-loan-collaboration">The Edge Singapore</a>

Clifford Capital and Pentagreen Capital announce US$30 mil green loan collaboration with BECIS

Singapore, 5 July 2024 - Clifford Capital, an infrastructure financing platform, and Pentagreen Capital (“Pentagreen”), the sustainable infrastructure debt financing platform established by HSBC and Temasek, announced a joint green loan collaboration of US$30 million with BE C&amp;I Solutions Holding Pte. Ltd. (“BECIS”) to catalyse the construction of distributed sustainable bioenergy projects across Southeast Asia and India.For more details, please refer to the <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1858709702181863425" download="file">press release</a>.

Clifford Capital and Pentagreen Capital announce US$30 million green loan collaboration with BECIS to support bioenergy projects in Southeast Asia and India

Singapore, 28 June 2024 - Clifford Capital is pleased to announce that the credit ratings on the Class B Notes and Class C Notes for Bayfront Infrastructure Capital III Pte. Ltd. have been upgraded by Moody’s Ratings.For more details, please refer to the <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1858709045290942465" download="file">press release</a>.

Moody’s upgrades BIC III Class B and Class C Notes

One Minute Q&amp;A with Gaurav Yadav.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_one-minute-qa-with-gaurav-yadav-q-you-activity-7206490406597844992-a0rK?utm_source=share&amp;utm_medium=member_desktop">here</a>

LinkedIn Spotlight: Gaurav Yadav, Head of Digital & Social Infrastructure, Client Coverage Group

It was a team building ‘hole-in-one’ last week as our Client Coverage Group (CCG) and Markets &amp; Investor Services (MIS) colleagues got together for a few games of mini-golf, followed by dinner!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_teambuilding-workculture-teamwork-activity-7200752916721246208-bitU?utm_source=share&amp;utm_medium=member_desktop">here</a>

Our Client Coverage and Markets & Investor Services teams got together for a team building event

One Minute Q&amp;A with Florence LeeFind out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_one-minute-qa-with-florence-lee-q-what-activity-7198502766414086144-P2L6?utm_source=share&amp;utm_medium=member_desktop">here</a>

LinkedIn Spotlight: Florence Lee, Chief Human Resources Officer

Today, we recognise and appreciate the invaluable contributions of our Admin team. Thank you for your dedication and hard work. Happy Administrative Professionals Day to all of you!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_happy-administrative-professionals-day-to-activity-7188807203577835520-rpoK?utm_source=share&amp;utm_medium=member_desktop">here</a>

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

The 5th edition of the Southeast Asia Green Economy report by Bain &amp; Company, GenZero, Standard Chartered and Temasek, launched at #Ecosperity this week, puts a spotlight on the innovative financing solutions needed to support green transition.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_southeast-asias-green-economy-2024-report-activity-7186988244733947904-5d-w?utm_source=share&amp;utm_medium=member_desktop">here</a>

Three Bayfront IABS transactions for eligible green and social assets gets highlighted at Ecosperity

Our Markets &amp; Investor Services team was honoured to be awarded ‘Innovation Deal of the Year – Bonds’ by IJGlobal, for our fourth issuance of Infrastructure Asset Backed Securities (IABS) (also known as "BIC IV").Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_our-markets-investor-services-team-was-activity-7186870705718734848-vSro?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital's Markets & Investor Services receives ‘Innovation Deal of the Year – Bonds’ award by IJGlobal

The Clifford Capital team celebrated Hari Raya with a high tea feast of traditional Malay kuehs, cookies and cakes. Wishing the team and all our partners Selamat Hari Raya Aidilfitri and Eid Mubarak!Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_the-clifford-capital-team-celebrated-hari-activity-7184353586342977536-zWKw?utm_source=share&amp;utm_medium=member_desktop">here</a>

Hari Raya celebration at Clifford Capital

One Minute Q&amp;A with Nicholas TanFind out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_one-minute-qa-with-nicholas-tan-q-describe-activity-7183999214786371585-aatt?utm_source=share&amp;utm_medium=member_desktop">here</a>

LinkedIn Spotlight: Nicholas Tan, Group Head of Markets & Investor Services

Markets &amp; Investor Services is proud to share the FY2023 Sustainable Assets Impact Report for Clifford Capital's existing hashtag#infrastructure asset backed securities (hashtag#IABS) vehicles - Bayfront Infrastructure Capital II, III and IV. The report highlights the ongoing sustainability impacts of the eligible green and social assets within our IABS portfolios, which included a quarter of a billion dollars of invested in renewable energy projects that were estimated to have abated close to half a million tonnes of CO2 equivalent in greenhouse gas (GHG) emissions last year.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_infrastructure-iabs-activity-7181537492179849218-bJJE?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital shares the FY2023 Sustainable Assets Impact Report for our existing IABS vehicles - Bayfront Infrastructure Capital II, III and IV

One Minute Q&amp;A with Audra Low.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_one-minute-qa-with-audra-low-q-describe-activity-7171678514935443456-Wi3X?utm_source=share&amp;utm_medium=member_desktop">here</a>

LinkedIn Spotlight: Audra Low, Group Head of Client Coverage

At Clifford Capital, we seek to provide innovative financing solutions to help our clients on their journey to become more sustainable.The financing for the Gimi floating liquified natural gas (FLNG) vessel that will shortly be deployed at the GTA Phase 1 project in Senegal and Mauritania was the world’s first non-recourse FLNG financing done in the commercial market, and also the first deal underwritten by Clifford Capital.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_naturalgas-lng-activity-7166622257438441472-9WtE?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital's innovative financing solutions:  Gimi FLNG vessel conversion

Singapore, 19 February 2024 - Clifford Capital Holdings (“Clifford Capital” or the “Group”), through its subsidiary Bayfront Infrastructure Management Pte. Ltd. (“Bayfront”), is pleased to announce the completion of its inaugural private placement of infrastructure asset-backed securities (“IABS”) to PT Chandra Daya Investasi (the “Investor”), a strategic infrastructure investment arm of the Chandra Asri Group.For more details, please refer to the&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862067932257771521">press release</a>.

Clifford Capital completes first private infrastructure asset-backed securities placement

Today the Clifford Capital team came together to celebrate the Lunar New Year with a fabulous lion dance, lunch and Lo Hei. Wishing all the team and all of our partners a happy, healthy and prosperous Year of the Dragon.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_today-the-clifford-capital-team-came-together-activity-7164207449183383552-QrYh?utm_source=share&amp;utm_medium=member_desktop">here</a>

Clifford Capital celebrates Lunar New Year with a fabulous lion dance, lunch and Lo Hei

Bryan Woon, Head of Structuring and Distribution at Bayfront Infrastructure Management, a Clifford Capital group company, joined GuarantCo’s Blended Knowledge podcast recently to discuss how enhancing secondary market liquidity through the use of mechanisms such as securitisation can help address the infrastructure funding gap in emerging and frontier markets.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.linkedin.com/posts/clifford-capital_blendedfinance-sustainableinfrastructure-activity-7163730450497089538-M31K?utm_source=share&amp;utm_medium=member_desktop">here</a>

Bryan Woon, Head of Capital Markets Structuring & Distribution, participated in GuarantCo’s Blended Knowledge podcast 

Bryan Woon, Head of Structuring and Distribution at Bayfront Infrastructure Management, a Clifford Capital group company, joined GuarantCo’s Blended Knowledge podcast recently to discuss how enhancing secondary market liquidity through the use of mechanisms such as securitisation can help address the infrastructure funding gap in emerging and frontier markets.Find out more in Blended Knowledge <a target="_blank" rel="noopener noreferrer" href="https://guarantco.com/blended-knowledge/enhancing-secondary-market-liquidity-to-increase-infrastructure-funding/">Bulletin</a>.

Bayfront Infrastructure Management joined GuarantCo’s Blended Knowledge podcast on enhancing secondary market liquidity to increase infrastructure funding

Singapore, 31 October 2023&nbsp;– Clifford Capital Holdings (“Clifford Capital” or the “Group”) is pleased to announce the appointment of&nbsp;Herman Wijaya&nbsp;as the new Group Chief Financial Officer (“GCFO”) in early December, replacing&nbsp;Adrian Teng&nbsp;who is leaving the Group at the end of the year. Herman will report to&nbsp;Murli Maiya, Group CEO&nbsp;of Clifford Capital.For more details, please refer to the&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862021061963341825">press release</a>.

Appointment of Group Chief Financial Officer, Clifford Capital Holdings

Moody’s upgrades BIC II Class B, C and D Notes

Bayfront Infrastructure Management priced a new APAC infrastructure CLO yesterday, according to a press release.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1863772874599505921">here</a>

New infrastructure CLO prices with support from two DFIs

Singapore-based Bayfront Infrastructure Management has established a new distribution vehicle with a portfolio of $410.3 million to provide investors with exposure to infrastructure asset-backed securities (IABS), it said on Wednesday.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.reuters.com/article/testv-singapore-bayfront-abs-idUKKBN30J0PQ">Reuters</a>

Singapore's Bayfront prices $410 million infrastructure asset-backed securities

Singapore-based Bayfront Infrastructure Management has established a new distribution vehicle with a portfolio of US$410.3 million (S$558.7 million) to provide investors with exposure to infrastructure asset-backed securities (IABS), it said on Wednesday.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.straitstimes.com/business/singapores-bayfront-prices-us410m-infrastructure-asset-backed-securities">The Straits Times</a>

Singapore’s Bayfront prices $559m infrastructure asset-backed securities

Singapore, 13 September 2023 – Bayfront Infrastructure Management Pte. Ltd. (“Bayfront”), a platform designed for institutional investors to access Asia-Pacific infrastructure debt, is pleased to announce the successful pricing of its fourth infrastructure asset-backed securities (“IABS”) transaction through Bayfront Infrastructure Capital IV Pte. Ltd. (“BIC IV”), a wholly owned and newly incorporated distribution vehicle. Bayfront’s shareholders are Clifford Capital Holdings (“CCH”) and the Asian Infrastructure Investment Bank (“AIIB”).For more details, please refer to the&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862066598045474817">press release</a>.

Bayfront prices US$410.3 million infrastructure asset-backed securities, demonstrating its track record of being a repeat, programmatic IABS issuer

Australian dollars became Clifford Capital’s first funding currency outside US dollars when the issuer printed its first Kangaroo deal, on 23 August. The issuer talks to&nbsp;KangaNews&nbsp;about aspirations in the market that limited only by the issuer’s growing Australian dollar operations, given the scale of oversubscription its debut deal attracted.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.kanganews.com/news/17721-clifford-capital-takes-the-plunge-with-debut-kangaroo">KangaNews</a>

Clifford Capital takes the plunge with debut Kangaroo

Moody's InvestorsService has upgraded the rating on the Class C Notes issued by Bayfront Infrastructure Capital III Pte. Ltd.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862038497357914113" download="file">here</a>

Rating Action: Moody's upgrades rating on Class C Notes issued by Bayfront Infrastructure Capital III Pte.Ltd.

Bayfront announces sale of Preference Shares in BIC II

Singapore, 21 June 2023&nbsp;– The Board of Directors of Clifford Capital Holdings (“CCH” or the “Group”) is pleased to announce the appointment of P. Murlidhar (“Murli”) Maiya as the new Group Chief Executive Officer (“GCEO”) and Executive Director of CCH. Murli will succeed Clive Kerner at the end of the third quarter. Following Murli’s appointment, Clive will remain with CCH in a senior advisory capacity until his retirement at the end of the year.For more details, please refer to the&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862020800540762113">press release</a>.

Clifford Capital Holdings Appoints P. Murlidhar Maiya as Group Chief Executive Officer

Video: Ecosperity Week 2023 OpeningWatch the video <a target="_blank" rel="noopener noreferrer" href="https://www.youtube.com/watch?v=db2wiYFHRFo&amp;list=PL6pRytjpCdlmOZpg0TlBgv5b4lNPqhBFg">here</a>

Clifford Capital was mentioned in Ms Grace Fu’s, Minister for Sustainability and the Environment, speech at Ecosperity Week 2023.

Singapore, 9 May 2023&nbsp;– Bayfront Infrastructure Management Pte. Ltd. (“Bayfront”), a platform designed for institutional investors to access Asia-Pacific infrastructure debt, is pleased to announce the successful pricing of its inaugural 3-year US$500 million fixed rate notes (“Notes”) offering today.For more details, please refer to the&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862020399326224385">press release</a>.

Bayfront prices US$500 million 3-year Fixed Rate Notes offering at 4.257% coupon

Regional governments need to become more familiar with the concept of public-private partnerships for the next phase of their infrastructural developments, as private investors want to come in, said Second Minister for Finance Indranee Rajah on Friday (May 5).Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.businesstimes.com.sg/singapore/singapore-can-bridge-regional-infrastructures-bankability-gap-indranee?login=true">The Business Times</a>

Singapore can bridge regional infrastructure’s bankability gap: Indranee

Bayfront announces the retirement of incumbent CEO and appointment of new CEO, with effect 1 April 2023

Private sector participation in infrastructure investments will be crucial in the transition to net-zero emissionsFind out more in <a target="_blank" rel="noopener noreferrer" href="https://web2-prd.businesstimes.com.sg/wealth-investing/bridging-financing-gap-en-route-net-zero-world">The Business Times</a>

Bridging the financing gap en route to a net-zero world by Clive Kerner

Singapore, 15 September 2022&nbsp;– Bayfront Infrastructure Management Pte. Ltd. (“Bayfront”), a platform designed for institutional investors to access Asia-Pacific infrastructure debt, is pleased to announce the successful pricing of its third infrastructure asset-backed securities (“IABS”) transaction through Bayfront Infrastructure Capital III Pte. Ltd. (“BIC III”), a wholly owned and newly incorporated distribution vehicle. Bayfront’s shareholders are Clifford Capital Holdings (“CCH”) and the Asian Infrastructure Investment Bank (“AIIB”).For more details, please refer to the&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862065557811945474">press release</a>.

Bayfront prices US$402.7 million infrastructure asset-backed securities, as it continues executing on its mandate to help address the infrastructure financing gap in Asia Pacific 15 September 2022

Clifford Capital Supports Peacock Container’s US$240 million Sustainability-Linked Loan, the First for the Tank Leasing Industry

To drive the region’s sustainable growth, an estimated US$3 trillion of additional green investment is required in ASEAN from 2016 to 2030. This translates into US$1.8 billion of green finance opportunities in the regional infrastructure sector during the same period. As the regional financial hub, Singapore is positioning itself as the Green Finance Hub for Asia with government initiatives such as the Green and Sustainability-Linked Loan Grant Scheme. Financial institutions are expected to play a vital role in the growth of green financing across the region. This panel will discuss the latest opportunities and challenges in green finance and the role of financial institutions in the global and regional transitions towards green economies.Watch the video in <a target="_blank" rel="noopener noreferrer" href="https://www.youtube.com/watch?v=p9nisJhgVqo&amp;t=1s">here</a>

CCPL's CEO, Audra Low, speaks on 'green financing and the role of financial institutions'

Bayfront Infrastructure Management introduced its first sustainability tranche to its latest infrastructure loan securitisation, deepening the nascent asset class and benefiting from a greenium in the process.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.ifre.com/story/3197474/asia-pacific-structured-finance-issue-bayfront-infrastructure-managements-us4012m-abs-zxcrhvkjcf">IFR Asia Awards 2021</a>

Asia-Pacific Structured Finance Issue: Bayfront Infrastructure Management’s US$401.2m ABS

The almost right word&nbsp;–&nbsp;focuses on unpacking infrastructure as an asset class and the contours of infrastructure finance.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.ijglobal.com/articles/161236/ij-podcasts-s01-ep01-the-almost-right-word">IJ Global</a>

Nicholas Tan, COO of Bayfront, was featured on IJ Global's Podcast

The Asset's annual Triple A recognition represents the industry's most prestigious awards for banking, finance, treasury and the capital markets.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.theasset.com/awards-single/country-awards">The Asset Triple A Awards 2021</a>

Bayfront Infrastructure Capital II has won the category of Best Securitization

To close the sustainable development gap in Asia, public and private infrastructure project owners have to tap into new sources of funding. What are these sources, how are they mobilising capital towards developing Asia, and how are they navigating the region’s investment landscape? Learn more in this podcast.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.sc.com/en/feature/unlocking-capital-for-sustainable-infrastructure-development-in-asia/">Standard Chartered Bank’s podcast series ‘Market Updates’</a>

Premod Thomas, CEO of Bayfront, was featured on SCB's podcast series

<a target="_blank" rel="noopener noreferrer" href="https://youtu.be/v_n9jVnoOck">Watch</a> this video interview with Audra Low, Chief Executive Officer, Clifford Capital Pte. Ltd. (CCPL)&nbsp;

Singapore International Energy Week (SIEW) Live 2021: Audra Low, Chief Executive Officer, Clifford Capital Pte. Ltd.

Clifford Capital Holdings was one of two companies cited by Singapore’s Minister for Finance Lawrence Wong at the 35th&nbsp;Singapore Economic Roundtable as a private sector partner supporting the Singapore government’s fiscal strategies by providing financing for Singapore businesses.Minister Wong said that Singapore has gone beyond just awarding grants to businesses, to using loans and equity to support companies. This will allow it to recycle its fiscal resources in the long run. It also risk-shares with banks, and provides support or invests with private sector partners such as Clifford Capital and Heliconia. "In this way, we borrow their commercial lens in the selection of companies to groom into local champions. These expanded ways of investing in our economy and viable companies are crucial in stretching the public dollar," he added.Read more on The Straits Times article:&nbsp; <a class="keychainify-checked" target="_blank" rel="noopener noreferrer" href="https://www.straitstimes.com/singapore/politics/singapore-must-strengthen-revenue-resilience-to-ensure-no-citizen-is-excluded">https://www.straitstimes.com/singapore/politics/singapore-must-strengthen-revenue-resilience-to-ensure-no-citizen-is-excluded</a>

Clifford Capital Holdings highlighted at the 35th Singapore Economic Roundtable by Minister for Finance as a private sector partner supporting Singapore’s long term fiscal strategies

Singapore, 8 October 2021&nbsp;– Bayfront Infrastructure Management Pte. Ltd. (“Bayfront”), a platform designed for institutional investors to access Asia-Pacific infrastructure debt, is pleased to share that it commemorated Bayfront Infrastructure Capital II Pte. Ltd.’s (“BIC II”) issuance of US$401m infrastructure asset-backed securities (“IABS”) with a ceremony followed by a panel session on sustainable finance held at the Singapore Exchange (“SGX”) centre. The ceremony and panel session were co-hosted with SGX and broadcasted via webcast.For more details, please refer to the&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862017039898435585">press release</a>

Bayfront co-hosts ceremony and sustainable finance panel discussion to commemorate milestone infrastructure asset-backed securities transaction

Clifford Capital Holdings (“CCH”) will, together with the Asian Development Bank, act as a strategic partner to a new sustainable infrastructure debt financing platform to be established by HSBC and Temasek. &nbsp;The vision of this platform is to build a pipeline of projects to scale and dispense over US$1 billion of loans within five years, with a meaningful portion targeting marginally bankable sustainable infrastructure projects. &nbsp;The platform will leverage CCH’s networks, expertise and experience to set-up the platform prior to launch. In addition, CCH will provide a comprehensive suite of ongoing middle- and back-office support when the platform is fully operational. In the first phase, the platform seeks to establish a “proof of concept” through the financing of up to four projects over a 18-24 month period.“Sustainable infrastructure financing is a key theme for us across our platforms and we are delighted to play a supporting role in this exciting initiative.&nbsp; In line with our mission to provide innovative and sustainable long term financing solutions to complement mainstream markets, CCH is uniquely positioned to contribute to the infrastructure financing landscape and to support sustainable new development and initiatives.” – Clive Kerner, Group Chief Executive Officer of CCHThis initiative was also mentioned by Minister Lawrence Wong in his opening address this morning at the 2021 Ecosperity Conference (refer to link below, 12:58).Link to Minister Lawrence Wong’s Opening Address at the 2021 Ecosperity Conference: <a class="keychainify-checked" target="_blank" rel="noopener"><a target="_blank" rel="noopener noreferrer" href="https://youtu.be/uqxw4plqxFI?list=PL6pRytjpCdlmIwd9Z7wSv_AIjgtkq98ZX">https://youtu.be/uqxw4plqxFI?list=PL6pRytjpCdlmIwd9Z7wSv_AIjgtkq98ZX</a></a>

Clifford Capital Holdings to support the establishment of a sustainable infrastructure debt financing platform by HSBC and Temasek

Singapore, 30 September 2021&nbsp;– Clifford Capital Holdings (“CCH” or the “Group”), a specialist financing and distribution platform for infrastructure and other real assets across the debt capital structure, today announces that it will act as a strategic partner to a sustainable infrastructure debt financing platform to be established by HSBC Holdings plc (“HSBC”) and Temasek under a proposed partnership.For more details, please refer to the&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862016616093376513">press release</a>

Definitive Credit Ratings of the BIC II Notes

BAYFRONT INFRASTRUCTURE MANAGEMENT proved that structured finance investors are willing to pay a premium for green and sustainable assets, pricing a sustainable tranche in its latest securitisation of project loans 5bp tighter than a regular note.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862049400220475394" download="file">IFR Asia</a>

Bayfront CLO scores greenium

Singapore-headquartered Bayfront Infrastructure Management today priced USD 401m infrastructure asset-backed securities. Of the total, investment-grade notes aggregating to USD 361.1m were listed on the Singapore Stock Exchange and subscribed by banks, multilateral financial institutions, insurance and pension funds and asset managers, according to an email statement from the infrastructure financing platform. The remaining is retained as equity by Bayfront Infrastructu Management as sponsor and retention holder.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862046476694118402" download="file">Inframation News</a>

Bayfront prices USD401m infrastructure asset-based securities

Infrastructure financing platform Bayfront Infrastructure Management has priced US$401 million in infrastructure asset-backed securities, almost half of which are sustainable green or social assets.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.businesstimes.com.sg/banking-finance/bayfront-infrastructure-management-prices-us401m-infrastructure-asset-backed">The Business Times</a>

Bayfront Infrastructure Management prices US$401m infrastructure asset-backed securities

Bayfront Infrastructure Capital II is marketing a US$401.2m securitisation of project finance and infrastructure loans that includes its first sustainability tranche.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1867480611799863297">here</a>

Bayfront Infrastructure sets FPG for project CLO, including first sustainability tranche

Singapore, 11 June 2021 – Bayfront Infrastructure Management Pte. Ltd. (“Bayfront”), a platform designed for institutional investors to access Asia-Pacific infrastructure debt, is pleased to announce the successful pricing of its infrastructure asset-backed securities (“IABS”) issuance through Bayfront Infrastructure Capital II Pte. Ltd. (“BIC II”), a wholly owned and newly incorporated distribution vehicle. This builds on the successful issuance of Asia’s first securitisation of project and infrastructure loans by BIC.For more details, please refer to the&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862015387682398210">press release</a>

Bayfront prices US$401 million; spearheads significant milestone infrastructure debt in Asia

Bayfront Infrastructure has launched a second securitisation of project finance and infrastructure loans, and this time it includes its first sustainability tranche. The issuer is Bayfront Infrastructure Capital II, which is a project finance collateralised loans obligation (CLO) cashflow securitisation, backed by a US$401.2m portfolio of bank-syndicated senior secured project finance and infrastructure loans to projects in Asia-Pacific, the Middle East and South America.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://api.cliffordcapital.sg/dev/file/download?id=1862046014867693569">PFI</a>

Bayfront Infra launches second CLO

Clifford Capital Holdings have been selected as the Asia Pacific Editor’s Choice at the IJGlobal&nbsp;APAC Awards 2020 for 'Clifford Capital’s corporate restructuring and ADB’s investment'. The milestone transaction in September 2020, marked the Asian Development Bank (ADB)’s first investment in a&nbsp;Singapore&nbsp;entity following the launch of its Singapore office. &nbsp; The valuable partnership continues to support sustainable infrastructure development in Asia and allows the Group to continue to meaningfully address the substantial infrastructure financing gap in Asia.“The rationale for the restructuring was to bring our complementary platforms under a holding company and help us to move to our next phase of growth. Bringing in ADB as a shareholder is an important part of this story. &nbsp; We’re delighted that ADB is a shareholder. Our remits are aligned in a number of areas.” – Clive Kerner, Group Chief Executive Officer of CCHView a replay of the awards ceremony (06:27):&nbsp;<div data-oembed-url="https://vimeo.com/568531585/12553f9f1c"><div style="margin:auto;max-width:320px;"><div style="height:0;left:0;padding-bottom:56.25%;position:relative;width:100%;"><iframe style="border-width:0;height:100%;left:0;position:absolute;top:0;width:100%;" allow="encrypted-media" allowfullscreen="" scrolling="no" src="https://player.vimeo.com/video/568531585?byline=0&amp;badge=0&amp;portrait=0&amp;title=0" tabindex="-1"></iframe></div></div></div> Read more about the milestone transaction on IJGlobal Magazine – Summer 2021 Issue:&nbsp; <a class="keychainify-checked" target="_blank" rel="noopener noreferrer" href="https://ijglobal.com/articles/156328/ijglobal-magazine-summer-2021-issue">https://ijglobal.com/articles/156328/ijglobal-magazine-summer-2021-issue</a>

IJGlobal APAC Awards 2020

The Temasek-backed company's core mandate of helping Singapore-based firms plug financing gaps remains unaffected by the pandemic.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.businesstimes.com.sg/leadership-management/clifford-capital-to-embrace-more-new-economy-green-projects">The Business Times</a>

Clifford Capital to embrace more new economy, green projects

Singapore, 26 March 2021&nbsp;– Clifford Capital Pte. Ltd. (“Clifford Capital”), a specialist provider of debt financing solutions globally to companies and projects with a nexus to Singapore in the infrastructure and maritime sectors, announces the successful closing of a USD100m super senior secured revolving credit facility (the “Facility”) for Floatel International Ltd., a transaction in which Clifford Capital acted as the sole arranger and underwriter.Floatel operates a fleet of five offshore accommodation vessels – Floatel Superior, Floatel Reliance, Floatel Victory, Floatel Endurance, and Floatel Triumph, all of which are designed for deep waters and harsh environments all around the world. Floatel is 49.92% owned by FELS Offshore Pte Ltd, a wholly owned subsidiary of Keppel Offshore &amp; Marine Ltd (“Keppel O&amp;M”).The Facility forms an essential part of a successful consensual restructuring, providing Floatel with the requisite liquidity to fund a cash redemption of its new first lien bonds, as well as for working capital and general corporate purposes. The Facility, along with Floatel’s new first lien bonds and up to USD10m of hedging facilities are secured against Floatel’s fleet of five offshore accommodation vessels. In addition, a participation agreement has been entered into between Clifford Capital and Keppel O&amp;M, where Keppel O&amp;M may be required to make Clifford Capital whole for any loss that Clifford Capital suffers under the Facility.The completion of this restructuring evidences continued support from stakeholders for Floatel, with the company now well-positioned to strengthen its contract backlog from new business, benefiting from the significantly deleveraged and well-capitalised balance sheet.“We are pleased to have worked closely with Keppel in structuring this Facility for Floatel. This Facility demonstrates our approach, where we leverage our industry knowledge and consider the interests of all relevant stakeholders in addressing the key risks associated with the financing to structure bankable, highly bespoke transactions. The transaction also highlights our ability to work with our key clients in a timely manner to address financing gaps in the maritime sector as it recovers from the downturn,” said Audra Low, CEO of Clifford Capital.&nbsp;&nbsp;About Clifford Capital Pte. Ltd. (www.cliffordcap.sg)Clifford Capital is a specialist provider of structured finance solutions established with support from the Government of Singapore to help Singapore companies and companies with a nexus to Singapore to grow internationally and capture new business in the global marketplace.Clifford Capital offers competitive and bespoke project finance, asset-backed and other structured debt financing solutions for eligible Singapore-based companies in support of their overseas investments or exports in the infrastructure, offshore marine and shipping sectors. Since its inception in 2012, the company has committed over US$3 billion to various projects around the world including Asia, the Middle East, Africa, Europe, Central and South America.As a non-bank financial institution with a unique business model, Clifford Capital is well-positioned to offer competitive financing solutions to clients, particularly in terms of longer maturities for senior debt and flexible debt product offerings across the capital structure.Clifford Capital is a subsidiary of Clifford Capital Holdings, a Singapore-headquartered specialist financing and distribution platform for real assets globally across the debt capital structure.

Clifford Capital Underwrites a USD100m Facility for Keppel’s Associated Company Floatel

Bayfront releases Sustainable Finance Framework to outline principles and guidelines for the issuance of green, social or sustainability notes<ul><li>Builds on Bayfront’s business model of acquiring and warehousing infrastructure debt, as well as structuring and managing securitisations or other forms of distribution to institutional investors</li><li>Outlines guidelines and principles for five key pillars around use of proceeds, project evaluation and selection, management of proceeds, reporting processes, and external reviews</li><li>Reflects Bayfront’s dedication to sustainability and commitment to generating positive environmental and social outcomes</li></ul>Singapore, 18 March 2021&nbsp;– Bayfront Infrastructure Management Pte. Ltd. (“Bayfront”), a platform designed for institutional investors to access Asia-Pacific infrastructure debt, is pleased to announce the release of its Sustainable Finance Framework (“SFF”). The SFF outlines the principles and guidelines for the issuance of green, social or sustainability notes to finance the purchase of eligible green and social loans.Bayfront is committed to contributing meaningfully to the United Nations Sustainable Development Goals (“SDGs”) through the mobilisation of institutional investment in sustainable infrastructure financing. By facilitating the recycling of capital by banks through loan take-outs, Bayfront aims to help banks and institutional investors channel additional capital into financing green and social projects.Bayfront’s sustainability strategy is twofold, aimed at incorporating Environmental, Social and Governance (“ESG”) factors into Bayfront’s loan portfolio selection criteria, while also contributing to the acquisition and distribution of green and social projects to support sustainable development.The launch of the SFF demonstrates Bayfront’s commitment to sustainable investing and its intention to issue green, social and sustainability notes, which will include infrastructure asset-backed securities. Sustainability notes are notes where the proceeds will be applied to finance or re-finance a combination of both eligible green loans and eligible social loans (as defined in the SFF). The issuance of these notes to institutional investors aims to deliver positive environmental and social outcomes and support Bayfront’s sustainability strategy.Mr. Premod Thomas, Chief Executive Officer of Bayfront Infrastructure Management, said: “Facilitating the mobilisation of private institutional capital into the infrastructure financing market is our core objective. With the increasing focus on the environment and climate change, it is critical that we adopt a more meaningful and purpose-driven approach to achieve our long-term objective of closing the infrastructure financing gap in Asia Pacific in a sustainable manner.”The SFF has been developed in line with international and regional sustainable finance standards set by organisations such as the International Capital Market Association and the ASEAN Capital Markets Forum. The SFF has also been reviewed by DNV-GL who has issued a Second Party Opinion and a Sustainable Finance Working Group has been created at Bayfront to evaluate and select eligible loans, and to ensure proceeds are allocated in accordance with the SFF.Further information on Bayfront’s SFF can be viewed at&nbsp;<a href="/">https://www.bayfront.sg/sustainable-finance</a>.&nbsp;About Bayfront Infrastructure Management Pte. Ltd.Launched in November 2019, Bayfront Infrastructure Management Pte. Ltd. is a platform designed for institutional investors to access Asia Pacific infrastructure debt. It seeks to address the infrastructure financing gap in the Asia Pacific region by facilitating the mobilisation of private institutional capital into the infrastructure financing market.Bayfront will acquire predominantly brownfield project and infrastructure loans from financial institutions, warehouse and manage them, with the objective of distributing securitised notes to institutional investors in the public markets.Bayfront is capitalised at US$1.98 billion, comprising US$180 million in equity and US$1.8 billion in debt issuance capacity. The equity capital is committed by Clifford Capital Holdings and the Asian Infrastructure Investment Bank on a 70/30 basis respectively. Debt instruments issued by Bayfront to acquire and warehouse loans from banks benefits from a guarantee provided by the Government of Singapore.

Bayfront releases Sustainable Finance Framework to outline principles and guidelines for the issuance of green, social or sustainability notes

Singapore, 17 March 2021 –&nbsp;Clifford Capital Pte. Ltd. (“Clifford Capital” or “the Company”), a specialist provider of project and structured finance solutions in support of Singapore-based companies in the infrastructure and maritime sectors, priced its US$500 million 5-year public bond offering yesterday. This issuance marks the Company’s return to the public bond offering market since its last public bond offering in 2019.The 5-year US$500 million bond has a coupon of 1.121% per annum with a 23 March 2026 maturity. This is Clifford Capital’s largest issuance to date with the proceeds being deployed for general corporate purposes, including the early refinancing of the Company’s US$300 million bond, which is maturing in November 2021.The bond is unconditionally and irrevocably guaranteed by the Government of Singapore and is expected to be assigned the highest issue rating of AAA by Standard &amp; Poor’s. ANZ, DBS Bank Ltd, HSBC, Standard Chartered Bank and UBS were the Joint Bookrunners and Joint Lead Managers for the transaction.Ms. Audra Low, Chief Executive Officer of Clifford Capital, said: “We are pleased that the issuance has received strong reception from high quality buy and hold accounts, even amidst challenging market conditions driven by interest rate volatility. The issuance will increase the efficiency of our capital structure and enable us to achieve better stakeholder value. This is our largest issuance to date and with the tightest spread achieved since our debut bond issuance in 2013. It is a testament to the level of investor confidence in Clifford Capital as we remain committed to developing competitive and bespoke project and structured finance solutions in support of Singapore-based companies. We would like to express our deepest appreciation to investors and the arranger banks for their continued support.”61% of the investors participated for the first time. Sovereign-supra-agencies investors accounted for 58% of the final allocation while banks were the second largest investor group with 29% of the final allocation.Following this transaction, Clifford Capital has a total outstanding issuance of US$1.89 billion under its US$2.0 billion Euro Medium Term Note (“EMTN”) programme from both public issuances and private placements.&nbsp;<div class="table-responsive"><figure class="table"><table class="table table-bordered"><tbody><tr class="graybg"><td colspan="5">Transaction Summary</td></tr><tr><td>Issuer:</td><td colspan="4">Clifford Capital Pte. Ltd.</td></tr><tr><td>Guarantor:</td><td colspan="4">The Government of Singapore (unconditional and irrevocable)</td></tr><tr><td>Guarantor Ratings:</td><td colspan="4">Aaa (Stable) by Moody’s / AAA (Stable) by S&amp;P / AAA (Stable) by Fitch</td></tr><tr><td>Issue Rating:</td><td colspan="4">AAA by S&amp;P</td></tr><tr><td>Format:</td><td colspan="4">Reg S, Registered</td></tr><tr><td>Issue Type:</td><td colspan="4">Senior unsecured fixed rate notes (the “Notes”) off US$2bn EMTN Programme</td></tr><tr><td>Issue Size:</td><td colspan="4">US$ 500 million</td></tr><tr><td>Tenor:</td><td colspan="4">5 Year</td></tr><tr><td>Settlement Date:</td><td colspan="4">23 March 2021</td></tr><tr><td>Maturity Date:</td><td colspan="4">23 March 2026</td></tr><tr><td>Issue Price:</td><td colspan="4">100.00%</td></tr><tr><td>Coupon:</td><td colspan="4">1.121%</td></tr><tr><td>Optional Redemption:</td><td colspan="4">Par Call from the date 1 month prior to maturity</td></tr><tr><td>Details:</td><td colspan="4">US$200k / 1k Denoms, SGX Listing</td></tr><tr><td>Governing Law:</td><td colspan="4">English Law (in respect of the Notes), Singapore Law (in respect of the Guarantee)</td></tr><tr><td>Use of Proceeds:</td><td colspan="4">General Corporate Purposes</td></tr><tr><td>JBRs &amp; JLMs:</td><td colspan="4">ANZ, DBS Bank Ltd, HSBC, Standard Chartered Bank, UBS</td></tr><tr><td>ISIN:</td><td colspan="4">XS2315804414</td></tr></tbody></table></figure></div><div class="table-responsive mt-4"><figure class="table"><table class="table table-bordered"><tbody><tr class="graybg"><td colspan="3">Distribution by Investor Type</td><td colspan="2">Geographical Distribution</td></tr><tr><td colspan="2">Public Sector:</td><td>58%</td><td>Asia:</td><td>73%</td></tr><tr><td colspan="2">Insurance / Pension Fund:</td><td>5%</td><td>EMEA:</td><td>17%</td></tr><tr><td colspan="2">Banks:</td><td>29%</td><td>U.S. Offshore:</td><td>10%</td></tr><tr><td colspan="2">Fund Manager / Corp:</td><td>7%</td><td>&nbsp;</td><td>&nbsp;</td></tr><tr><td colspan="2">Private Banks / Other:</td><td>1%</td><td>&nbsp;</td><td>&nbsp;</td></tr></tbody></table></figure></div>&nbsp;About Clifford Capital Pte. Ltd.&nbsp;(<a href="/">www.cliffordcap.sg</a>)Clifford Capital is a specialist provider of structured finance solutions established with support from the Government of Singapore to help Singapore companies and companies with a nexus to Singapore to grow internationally and capture new business in the global marketplace.Clifford Capital offers competitive and bespoke project finance, asset-backed and other structured debt financing solutions for eligible Singapore-based companies in support of their overseas investments or exports in the infrastructure, offshore marine and shipping sectors. Since its inception in 2012, the company has committed over US$3 billion to various projects around the world including Asia, the Middle East, Africa, Europe, Central and South America.As a non-bank financial institution with a unique business model, Clifford Capital is well-positioned to offer competitive financing solutions to clients, particularly in terms of longer maturities for senior debt and flexible debt product offerings across the capital structure.Clifford Capital is a subsidiary of Clifford Capital Holdings, a Singapore-headquartered specialist financing and distribution platform for real assets globally across the debt capital structure.&nbsp;For media enquiries, please contact:Mr. Ted Low Chief Operating Officer DID: +65 6229 2916 <a class="keychainify-checked" href="mailto:ted.low@cliffordcap.sg">ted.low@cliffordcap.sg</a>

17 Mar 2021 Clifford Capital prices US$500 million 5-year public bond offering at 1.121% coupon × Clifford Capital prices US$500 million 5-year public bond offering at 1.121% coupon

<figure class="image"><img style="aspect-ratio:939/468;" src="https://api.cliffordcapital.sg/dev/file/download?id=1862014718334394370" width="939" height="468"></figure>Singapore, 3 March 2021 –&nbsp;Clifford Capital Pte. Ltd. (“Clifford Capital”), the Singapore-based specialist provider of project and structured debt financing solutions for companies and projects with a nexus to Singapore, today announces that Audra Low, Chief Executive Officer, has been recognised by the Multilateral Investment Guarantee Agency (“MIGA”) as this year’s recipient of its 6th&nbsp;Annual Gender Leadership Award.Held in conjunction with International Women’s Day, this year’s event and awards ceremony, titled ‘Women Financing a Resilient Asia’, honours a leader who has a proven track record in infrastructure finance while furthering the cause of women’s advancement and gender equality, and contributing to the World Bank Group’s twin goals of reducing poverty and boosting shared prosperity.Clifford Capital and MIGA have forged a close partnership since 2013 through collaborations in financing greenfield infrastructure projects in Asia, particularly in frontier markets. MIGA’s credit enhancement guarantees creates a pathway for Clifford Capital and other commercial financing institutions to address sovereign and political risks when providing long-dated cross-border financing for infrastructure projects. This partnership has helped several Singapore-based companies invest in developing markets in ASEAN and beyond, unlocking much needed capital for the development of essential infrastructure that is needed to underpin economic growth in the region.Audra Low, Chief Executive Officer of Clifford Capital, said: “I am honoured to be awarded this prestigious accolade by MIGA, which recognises the efforts that Clifford Capital has made in promoting gender equality. Today, women account for 36% of the functional leadership roles and over 50% of employees across Clifford Capital Holdings, and we will continue to strive for meaningful female representation especially in leadership positions as we grow our business. MIGA has been an invaluable partner to Clifford Capital in helping to enhance confidence in cross-border financing, complementing our efforts to finance infrastructure projects in frontier markets. We look forward to further collaborations with MIGA to address the market gaps in project and structured finance, and to support infrastructure development in the region to build a more resilient Asia.”Clive Kerner, Group Chief Executive Officer of Clifford Capital Holdings, said: “This important award is a testament to Audra’s leadership qualities. Since joining Clifford Capital at its inception in 2012, she has played a key role in spearheading its growth and developing important client relationships across the infrastructure and maritime sectors. With a proven track record in promoting gender equity at Clifford Capital, Audra has actively championed policies and practices to promote equal opportunities for all employees and to support the career advancement of women leaders. We are committed to ensuring diversity and inclusion across the Group, including at the Board level.”Hiroshi Matano, MIGA Executive Vice President, said: “MIGA is delighted to recognise Audra Low as this years’ awardee. Ms. Low’s efforts set an example for women in the finance sector, who have been significantly underrepresented in executive positions, representing less than 2% of bank CEOs and holding less than 20% of board seats of banks worldwide.”The live replay of the awards ceremony held on 8 March 2021 can be viewed at:&nbsp;<a class="keychainify-checked" target="_blank" rel="noopener"><a target="_blank" rel="noopener noreferrer" href="https://www.youtube.com/watch?v=ndwAneLkt0o&amp;ab_channel=WorldBank">https://www.youtube.com/watch?v=ndwAneLkt0o&amp;ab_channel=WorldBank</a></a>&nbsp;About Clifford Capital Pte. Ltd.Clifford Capital is a specialist provider of structured finance solutions established with support from the Government of Singapore to help Singapore companies and companies with a nexus to Singapore to grow internationally and capture new business in the global marketplace.Clifford Capital offers competitive and bespoke project finance, asset-backed and other structured debt financing solutions for eligible Singapore-based companies in support of their overseas investments or exports in the infrastructure, offshore marine and shipping sectors. Since its inception in 2012, the company has committed over US$3 billion to various projects around the world including Asia, the Middle East, Africa, Europe, Central and South America.As a non-bank financial institution with a unique business model, Clifford Capital is well-positioned to offer competitive financing solutions to clients, particularly in terms of longer maturities for senior debt and flexible debt product offerings across the capital structure.Clifford Capital is a subsidiary of Clifford Capital Holdings, a Singapore-headquartered specialist financing and distribution platform for real assets globally across the debt capital structure.For more information, visit&nbsp;<a href="/">https://www.cliffordcap.sg/</a>&nbsp;About the Multilateral Investment Guarantee AgencyMIGA was created in 1988 as a member of the World Bank Group to promote foreign direct investment in emerging economies by helping to mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war and civil disturbance; and offering credit enhancement to private investors and lenders.Since its creation, MIGA has issued over US$59 billion in guarantees across 118 developing countries.For more information, visit&nbsp;<a class="keychainify-checked" target="_blank" rel="noopener"><a target="_blank" rel="noopener noreferrer" href="https://www.miga.org/">https://www.miga.org/</a></a>

Audra Low, Chief Executive Officer of Clifford Capital, named as recipient of the 6th Annual MIGA Gender Leadership Award

<figure class="image"><img style="aspect-ratio:1234/454;" src="https://api.cliffordcapital.sg/dev/file/download?id=1862041171608395777" width="1234" height="454"></figure>Singapore, 11 December 2020 –&nbsp;Clifford Capital is pleased to be a sponsor in Eastern Pacific Shipping’s (“EPS”) “EPS Around the World” fundraiser event. The event aims to raise funds for seven nominated charities to support worthwhile causes that will benefit the environment, as well as the education and wellbeing of children.EPS has pledged S$670,000 to “EPS Around the World” and is working with its industry partners to collectively raise up to S$1 million by walking, running or cycling a total of 40,075 km – the estimated length of the earth’s circumference. Between 7-11 December 2020, EPS will donate S$6 for every kilometre walked, run, or cycled submitted by participants via the Strava mobile app. The fundraiser is part of the EPS Cares Initiative, a programme designed to support people and charities through donations, fundraising and volunteer work.As an event sponsor, Clifford Capital contributed with a donation as well as participated in the fundraiser event with colleagues across the wider Clifford Capital Holdings Group, as part of a company-wide team-building activity to contribute towards the collective distance target. The distance clocked by participating colleagues totalled 418km, contributing to the total distance of over 72,400km achieved by the fundraiser event.The charity beneficiaries include six Singapore-based charities – (i) Children’s Aid Society, (ii) Community Chest, (iii) Ronald McDonald House Charities, (iv) The Straits Times School Pocket Money Fund, (v) Singapore Environment Council and (vi) Willing Hearts – as well as a global charity, Mercy Ships, as part of its Cargo Day initiative. The event has been approved by the Singapore Tote Board and qualifies for the dollar to dollar matching scheme under the Singapore Fortitude Budget for up to S$250,000 for the six Singapore-based charities.Further information on the “EPS Around the World” fundraiser can be found at&nbsp;<a class="keychainify-checked" target="_blank" rel="noopener noreferrer" href="https://www.epshipping.com.sg/about-us/sustainability/csr/">https://www.epshipping.com.sg/about-us/sustainability/csr/</a>About Clifford Capital Pte. Ltd.:Clifford Capital is a specialist provider of structured finance solutions established with support from the Government of Singapore to help Singapore companies and companies with a nexus to Singapore to grow internationally and capture new business in the global marketplace.Clifford Capital offers competitive and bespoke project finance, asset-backed and other structured debt financing solutions for eligible Singapore-based companies in support of their overseas investments or exports in the infrastructure, offshore marine and shipping sectors.&nbsp; Since its inception in 2012, the company has committed over US$2 billion to various projects around the world including Asia, the Middle East, Africa, Europe, Central and South America.As a non-bank financial institution with a unique business model, Clifford Capital is well-positioned to offer competitive financing solutions to clients, particularly in terms of longer maturities for senior debt and flexible debt product offerings across the capital structure.

Clifford Capital supports Eastern Pacific Shipping in “EPS Around the World” fundraiser initiative

In its first investment in a local entity since setting up shop in Singapore earlier this year, the Asian Development Bank (ADB) will inject US$95 million (S$129 million) into Clifford Capital Holdings (CCH), spurring growth in the Temasek-backed company - especially in the area of sustainable infrastructure financing in Asia.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.straitstimes.com/business/banking/adb-invests-129m-in-temasek-backed-clifford-capital-holdings">The Straits Times</a>

ADB invests $129m in Temasek-backed Clifford Capital Holdings

The Asian Development Bank (ADB) is putting $95 million towards Clifford Capital's&nbsp;future growth plans, including broadening its business capabilities to address the increased demand for sustainable infrastructure financing in Asia.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.finews.asia/finance/32754-asian-development-bank-to-fund-growth-of-alternative-integrated-investment-platform-clifford-capital">finews.asia</a>

ADB to fund growth of alternative integrated investment platform

In its first investment in a local entity since setting up shop in Singapore earlier this year, the Asian Development Bank (ADB) will inject US$95 million into Clifford Capital Holdings (CCH), spurring growth in the Temasek-backed company - especially in the area of sustainable infrastructure financing in AsiaFind out more in <a target="_blank" rel="noopener noreferrer" href="https://www.businesstimes.com.sg/banking-finance/adb-invests-us95m-to-support-sustainable-infrastructure-development-via-clifford">The Business Times</a>

ADB invests US$95m to support sustainable infrastructure development via Clifford Capital

Clifford Capital Holdings announces US$95 million investment from ADB to support sustainable infrastructure development in Asia

Clifford Capital is pleased to announce that the Gimi Floating Liquefied Natural Gas (“FLNG”) project has been named by IJGlobal as the winner of the Africa Oil and Gas Deal of the Year 2019.The Gimi FLNG project, a 70/30 joint venture between Golar LNG and Keppel Capital, involves the conversion of an LNG carrier at Keppel Shipyard into a floating LNG unit with a capacity of 2.45 mtpa. Upon delivery, Gimi FLNG will be deployed on the Greater Tortue Ahmeyim (“GTA”) field offshore Mauritania and Senegal to receive, process and liquefy natural gas under a long term lease and operate contract with BP. The GTA field, with total gas resources estimated at 15 tcf, is jointly owned by BP, Kosmos Energy and the national oil companies of both countries. The US$700m debt financing for this project is the first limited recourse project financing for a FLNG vessel in the commercial bank market. The successful conclusion of this commercial project financing for the FLNG segment will pave the way for future financings of similar projects.Clifford Capital played a key role in the financing of this project as the Lead Coordinator and assembled the four-bank group which includes ABN Amro, ING and Natixis as Bookrunning MLAs to jointly structure, arrange and provide the underwriting commitment.IJGlobal award announcement:&nbsp;<a class="keychainify-checked" target="_blank" rel="noopener"><a target="_blank" rel="noopener noreferrer" href="https://ijglobal.com/articles/147839/ijglobal-awards-2019-europe-and-africa">https://ijglobal.com/articles/147839/ijglobal-awards-2019-europe-and-africa</a></a>

Gimi FLNG is awarded Africa Oil and Gas Deal of the Year 2019 by IJGlobal

<ul><li>Establishes a 50/50 partnership between Clifford Capital Holdings and Keppel Capital in Pierfront Capital</li><li>Strategic addition of private credit and mezzanine financing solutions to build capability within Clifford Capital Holdings’ portfolio</li><li>Multiple co-investment opportunities and operational synergies with Group companies</li><li>Builds on successful track record since inception in 2016 and subsequent first close of the Keppel-Pierfront Private Credit Fund on 30 March 2020</li><li>Completes the re-organization of Clifford Capital Holdings and brings Pierfront under the group umbrella</li></ul>Singapore, 24 June 2020&nbsp;– Clifford Capital Holdings (“CCH” or the “Group”), an integrated alternative investment platform with origination, distribution and investment management capabilities, today announces the completion of the acquisition of a 50% stake in Pierfront Capital Fund Management Pte. Ltd. (“Pierfront Capital”).Pierfront Capital is a Singapore-based fund manager that offers bespoke private credit and mezzanine financing solutions in real asset sectors globally. Pierfront Capital is the manager of Pierfront Capital Mezzanine Fund Pte. Ltd. (“PCMF”) and the KeppelPierfront Private Credit Fund (“Fund II”). Along with its acquisition of 50% of Pierfront Capital, CCH has also acquired PCMF’s interest in Fund II.Clifford Capital Pte. Ltd. (“CCPL”) led the conceptualisation and establishment of PCMF in 2016. PCMF is owned by two of CCH’s shareholders (Temasek Holdings and SMBC) and CCPL provided back- and middle-office services to PCMF up to 30 March 2020, when this function was transferred to CCH’s Management Services entity. Fund II builds on Pierfront Capital’s track record in real assets private credit, which has seen it investing close to US$400 million in 15 transactions with four exits to-date, achieving over mid-teens gross internal rate of return.The transaction follows the completion of KC Management One Pte. Ltd.’s (“Keppel Capital”) 50% acquisition in Pierfront Capital and the first close of Fund II on 30 March 2020. Fund II is the initiation of a series of funds with a differentiated private credit investment strategy that aims to provide junior and mezzanine debt solutions to corporates or projects predominantly in real asset sectors. It has initial capital commitments of US$200 million and focuses on real asset sectors in the Asia-Pacific region such as infrastructure, real estate, offshore marine, transportation, energy and natural resources.In addition to supporting the growth of Singapore-based companies in overseas markets through CCPL and the acquisition, warehousing and distribution of infrastructure loans through Bayfront Infrastructure Management, the acquisition of Pierfront Capital will allow the Group to expand its business capabilities to include private credit and mezzanine financing solutions. With this acquisition of Pierfront, CCH also completes its re-organization into a holding company structure and creating a platform for the development of new and complementary business lines as well as operational synergies.1 Through CCH’s platform, Pierfront Capital can benefit from co-investment opportunities with other Group companies; particularly via junior or mezzanine tranches in senior secured transactions involving CCPL. Pierfront Capital will also be able to leverage on CCH’s Management Services entity to yield economic and operational synergies through centralised shared service support covering back- and middle-office functions including risk, finance, treasury, legal, compliance, human resources, administration, technology and operations.Clive Kerner, Group Chief Executive Officer of Clifford Capital Holdings, said: “The transaction is a milestone development for CCH as we continue to develop new business lines, scale up and strengthen operational efficiencies across our Group. Underpinning our mission to provide innovative and sustainable financing solutions focused on the underserved real assets sectors, we are pleased to include bespoke private credit and mezzanine financing solutions from Pierfront Capital as an offering to our clients. Having led the establishment of Pierfront Capital in 2016, this transaction and the strategic partnership with Keppel Capital positions Pierfront Capital for its next phase of growth.”Stephane Delatte, Chief Executive Officer and Chief Investment Officer of Pierfront Capital, said: “We are pleased that our relationship with the Group since Pierfront Capital’s inception in 2016 has culminated in a successful partnership. We look to leverage on CCH’s extensive network, not only to gain access to further opportunities to meet the increasing demand for specialist intermediate capital in the real asset sectors, but also for valuable sector and credit-related insight. We believe the strategic partnership between CCH and Keppel Capital in Pierfront Capital, will amplify Pierfront Capital’s long-term prospects as well as augment our capabilities to deliver attractive risk-adjusted returns for our investors.”- End -About&nbsp;<a href="/">Clifford Capital Holdings</a> Clifford Capital Holdings is a specialist financing and distribution platform for real assets globally across the debt capital structure, headquartered in Singapore. It provides innovative and sustainable financing solutions to complement mainstream markets across the entire debt capital structure.The Group aims to build a globally competitive alternative financing platform closely aligned to Singapore’s economic growth initiatives in the infrastructure, maritime and other real assets sectors, and works in close collaboration with Singapore government agencies such as the Monetary Authority of Singapore, Economic Development Board, Maritime and Port Authority of Singapore and Enterprise Singapore.Its shareholders comprise Temasek Holdings, Prudential Assurance Company Singapore, Sumitomo Mitsui Banking Corporation, Standard Chartered Bank, DBS Bank and John Hancock Life Insurance Company (Manulife).About&nbsp;<a class="keychainify-checked" target="_blank" rel="noopener"><a target="_blank" rel="noopener noreferrer" href="https://www.pierfront.sg/">Pierfront Capital</a></a> Established in 2016, Pierfront Capital is a Singapore-based fund manager that offers bespoke private credit and mezzanine financing solutions in real asset sectors globally. As an independent investment company offering junior debt, mezzanine and structured financing solutions in capital intensive businesses, Pierfront Capital focuses on providing growth capital across a wide range of real asset sectors including, but not limited to infrastructure, energy, transportation, telecommunications, real estate and logistics.Pierfront Capital currently manages two private credit funds, Pierfront Capital Mezzanine Fund Pte. Ltd. and the Keppel-Pierfront Private Credit Fund. The funds managed by Pierfront Capital target investments in the lower risk mezzanine segment of private credit in the Asia Pacific real asset sectors, comprising loans to creditworthy mid-cap companies and projects with defensive infrastructure like business models, contracted or resilient cashflows and strong sponsors or stakeholders.Pierfront Capital has invested close to US$400 million in 15 transactions to meet the increasing demand from financial sponsors and corporates for specialist intermediate capital in the Asia-Pacific region.For media enquiries, please contact: Angela Campbell-Noë / Jonathan Yeoh Tulchan Communications LLP Email:&nbsp;<a class="keychainify-checked" href="mailto:cliffordcapital@tulchangroup.com">cliffordcapital@tulchangroup.com</a> Phone: (65) 6222 3765

Clifford Capital Holdings completes 50% acquisition of Pierfront Capital

<figure class="image"><img style="aspect-ratio:750/469;" src="https://api.cliffordcapital.sg/dev/file/download?id=1862013873396047873" width="750" height="469"></figure>Singapore, 15 May 2020&nbsp;– &nbsp;Clifford Capital Pte. Ltd. (“Clifford Capital”), the Singapore-based specialist provider of debt financing solutions globally to companies and projects with a nexus to Singapore in the infrastructure and maritime sectors, is pleased to announce the closing of the US$140m Senior Secured Term Loan Financing for Summit Gazipur II Power Limited, a subsidiary of Summit Power International, in relation to the development, construction and operation of a 300-megawatt oil-fired power plant (“Gazipur II” or the “Project”) in the Gazipur district of People's Republic of Bangladesh (“Bangladesh”).This transaction marks a significant milestone in the project financing market in Bangladesh as it is the first Independent Power Project (“IPP”) in Bangladesh to be financed solely by international commercial financing institutions, whereas prior projects had been financed substantially by development finance institutions and multi-lateral development banks.The financing process was completed despite continuing lockdowns in Bangladesh and Singapore as a result of the COVID-19 pandemic, highlighting the constructive approach taken by both lenders as well as the sponsor in overcoming the practical challenges faced in closing a project financing transaction in these difficult times.This transaction also marks the first project financing concluded between Clifford Capital and Summit Power International, a leading infrastructure developer and operator in South Asia that is headquartered in Singapore. The financing comprised a combination of a fixed rate term loan provided by Clifford Capital, alongside a floating rate term loan provided by Sumitomo Mitsui Banking Corporation (“SMBC”). Clifford Capital, as Joint Coordinator, played a key role in the structuring and execution of this financing and led the legal, financial modelling and insurance due-diligence work streams.Audra Low, Chief Executive Officer of Clifford Capital said:&nbsp;“Clifford Capital is delighted to support Summit Power International, an established Singapore-based infrastructure developer, in the company’s plans to expand its energy portfolio in Bangladesh. The financing is core to our mandate of supporting companies in Singapore in their overseas investments and stands testament to Clifford Capital’s capabilities to structure, coordinate and execute innovative financings, leveraging on our expertise in the power sector in Bangladesh.&nbsp;It also showcases Singapore’s role as a key infrastructure financing hub for the region with the sponsor, financiers and key advisers for this financing all based in Singapore.”&nbsp;Muhammed Aziz Khan, Chairman of Summit Group of Companies said:&nbsp;“We at Summit Power International, are pleased to have received strong and constructive support from Clifford Capital and SMBC throughout the financing stages of our 300 MW Project in Gazipur. Both Clifford Capital and SMBC have demonstrated their value addition by working with other financiers and advisers as well as Bangladesh Bank (“BB”) to achieve this significant milestone by delivering a competitive bespoke financing package during this lockdown."The Project was awarded in June 2017 under a scheme by the Power Division of the Ministry of Power, Energy and Mineral Resources of Bangladesh to deliver 2,600MW of fast track power projects to meet the growing need for power in the country. The Project will supply power to the Bangladesh Power Development Board (“BPDB”) under a 15-year Power Purchase Agreement (“PPA”) with a long-term fuel supply agreement with&nbsp;<a target="_blank" rel="noopener noreferrer" href="http://www.soscl.net/">Summit Oil &amp; Shipping Co. Ltd (SOSCL)</a>&nbsp;the largest fuel oil supplier in Bangladesh and part of Summit Group of Companies. The Project achieved commercial operations on 10 May 2018, and had since been supplying reliable power into the grid, for the much needed power for businesses and homes in Bangladesh with its growing economy.About Clifford Capital Pte. Ltd.:Clifford Capital is a specialist provider of structured finance solutions established with support from the Government of Singapore to help Singapore companies and companies with a nexus to Singapore to grow internationally and capture new business in the global marketplace.Clifford Capital offers competitive and bespoke project finance, asset-backed and other structured debt financing solutions for eligible Singapore-based companies in support of their overseas investments or exports in the infrastructure, offshore marine and shipping sectors.&nbsp; Since its inception in 2012, the company has committed over US$2 billion to various projects around the world including Asia, the Middle East, Africa, Europe, Central and South America.As a non-bank financial institution with a unique business model, Clifford Capital is well-positioned to offer competitive financing solutions to clients, particularly in terms of longer maturities for senior debt and flexible debt product offerings across the capital structure.For more information, visit&nbsp;<a href="/">https://www.cliffordcap.sg/</a>About Summit Power International:Incorporated in Singapore, Summit Power International&nbsp;is the first and largest independent power producer (IPP) in Bangladesh with a generating capacity of 1,941 MW, another 583 MW under construction. Summit also owns and operates a Floating Storage and Regasification Unit (FSRU) vessel and supplies 500 million cubic feet per day (mmcfd) of re-gasified gas to Bangladesh. Recently Japan’s largest energy company&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.jera.co.jp/english/">JERA Co., Inc. (“JERA”)</a>, has acquired a 22% stake in Summit Power International. Summit had earlier received equity investment in its FSRU project from&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.mitsubishicorp.com/jp/en/index.html">Mitsubishi Corporation</a>.&nbsp;For more information, visit&nbsp;<a target="_blank" rel="noopener noreferrer" href="http://www.summitpowerinternational.com/">www.summitpowerinternational.com</a>&nbsp;and www.soscl.net

Clifford Capital finances Summit Power International’s Power Plant Project in Bangladesh amid COVID crisis

Infrastructure financing platform Bayfront Infrastructure Management has inked partnerships with 15 global banks in its first month of operations.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.businesstimes.com.sg/banking-finance/infrastructure-financing-platform-bayfront-inks-deals-with-15-banks">The Business Times</a>

Infrastructure financing platform Bayfront inks deals with 15 banks

Singapore-based Bayfront signed a memorandum of understanding with 15 banks in an effort to fill the infrastructure financing gap in Asia.Find out more <a target="_blank" rel="noopener noreferrer" href="https://www.finews.asia/finance/31635-singapore-based-infrastructure-finance-platform-inks-deal-with-15-banks">Finews.asia&nbsp;</a>

Singapore infrastructure finance platform inks deal with 15 banks

Singapore's Clifford Capital Pte Ltd has established a new holding company while Bayfront Infrastructure Management is collaborating with 15 banks for infrastructure loan acquisitions.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.dealstreetasia.com/stories/sg-digest-clifford-capital-bayfront-186636/">DealStreetAsia</a>

Clifford Capital sets up holding co; Bayfront partners 15 banks

Clifford Capital unveils new organisational structure to broaden business capabilities to help address the infrastructure financing gaps in Asia

<ul><li>Officially commenced operations on 2 April 2020</li><li>Signs MOUs with 15 banks to achieve alignment of understanding and catalyse steady pipeline of infrastructure and project finance loan acquisitions</li><li>On track with strategy to address the substantial infrastructure financing gap in Asia-Pacific by mobilising private institutional capital</li></ul>Singapore, 29 April 2020&nbsp;– Bayfront Infrastructure Management Pte. Ltd. (“Bayfront”), a platform designed for institutional investors to access Asia-Pacific infrastructure debt, officially commenced its operations on 2 April 2020. The establishment of Bayfront builds on the successful issuance of Asia’s first securitisation of project finance and infrastructure loans through&nbsp;<a class="keychainify-checked" href="/" target="_blank" rel="noopener">Bayfront Infrastructure Capital</a>&nbsp;(“BIC”) in July 2018.Bayfront is a 70/30 strategic partnership between Clifford Capital Holdings Pte. Ltd. (“CCH”) and the Asian Infrastructure Investment Bank (“AIIB”). Bayfront seeks to acquire predominantly brownfield project and infrastructure loans from financial institutions, warehouse and manage them, with the objective of distributing securitised notes to institutional investors in the public markets. Bayfront will sponsor, structure, and manage such distribution issuances, as well as invest in the equity tranches or vertical slices of its securitisation issuances to demonstrate alignment of interest with investors.The execution of the Memorandum of Understanding (“MOU”) aligns the understanding between Bayfront and each bank for future collaboration on the&nbsp;<a class="keychainify-checked" href="/" target="_blank" rel="noopener">takeout mechanism</a>&nbsp;for infrastructure loans, including the key principles and criteria for potential transfers of infrastructure loans from each bank to Bayfront.As part of the engagement strategy with financial institutions, Bayfront has signed MOUs with an initial list of 15 banks:<figure class="image"><img style="aspect-ratio:600/389;" src="https://api.cliffordcapital.sg/dev/file/download?id=1862012712362369025" width="600" height="389"></figure>Bayfront has already commenced loan acquisitions from a number of these banks and will continue to expand its network of banks going forward.Mr. Premod Thomas, Chief Executive Officer of Bayfront, said: “Building on the success of the BIC transaction in 2018, Bayfront is looking to scale up its portfolio to capture growth, while placing a strong emphasis on quality and diversity of assets. The banks who are active players in the regional project finance and infrastructure financing landscape are our key partners. Close collaboration and dialogue with these banks to ensure a steady pipeline of loan acquisitions is a key pillar in achieving our objective of crowding in non-bank institutional capital to address the large infrastructure financing gap in Asia-Pacific, while at the same time meeting these banks’ capital recycling needs. We look forward to a fruitful partnership with each of these institutions over the years to come.”Ms. Gillian Tan, Executive Director and Head of Financial Markets Development at the Monetary Authority of Singapore, said: “The keen interest shown by the 15 banks which signed MOUs with Bayfront is testament to the strong potential of the platform in unlocking capital for infrastructure financing. These partnerships are a key element as Bayfront works towards mobilising private capital into infrastructure finance through innovative market solutions.”Bayfront’s objective is to address the substantial infrastructure financing gap in the Asia-Pacific region. This will be achieved by facilitating the mobilisation of private institutional capital into the infrastructure financing market, which will in turn unlock capital for infrastructure financing by facilitating the recycling of capital and liquidity by banks, who have traditionally been the largest lenders in this sector.About Bayfront Infrastructure Management Pte. Ltd. Launched in November 2019, Bayfront Infrastructure Management Pte. Ltd. (“Bayfront”) is a platform designed for institutional investors to access Asia Pacific infrastructure debt. It seeks to address the infrastructure financing gap in the AsiaPacific region by facilitating the mobilisation of private institutional capital into the infrastructure financing market.Bayfront will acquire predominantly brownfield project and infrastructure loans from financial institutions, warehouse and manage them, with the objective of distributing securitised notes to institutional investors in the public markets.Bayfront is capitalised at US$1.98 billion, comprising US$180 million in equity and US$1.8 billion in debt issuance capacity. The equity capital is committed by CCH and the Asian Infrastructure Investment Bank on a 70/30 basis respectively. Debt instruments issued by Bayfront to acquire and warehouse loans from banks benefits from a guarantee provided by the Government of Singapore.For media enquiries, please contact:Angela Campbell-Noë / Vanessa Ang <a target="_blank" rel="noopener noreferrer" href="https://www.tulchangroup.com/">Tulchan Communications LLP</a> Email:&nbsp;<a class="keychainify-checked" href="mailto:bayfront@tulchangroup.com">bayfront@tulchangroup.com</a> Phone: (65) 6222 3765

Bayfront signs MOUs with 15 partner banks on framework for potential infrastructure loan acquisitions

The report, prepared by researchers and contributors from AIIB, the EIU and other external experts and organisations, focuses on investing better and investing more into infrastructureFind out more in <a target="_blank" rel="noopener noreferrer" href="https://pages.eiu.com/rs/753-RIQ-438/images/AIIB_AIF2020_April.10_Final.pdf?linkId=100000011786794">here</a>

Bayfront Infrastructure Capital featured in Asian Infrastructure Finance Report 2020

<div class="d-flex justify-content-center align-items-center my-4"><div class="flex-item"><img src="https://uat.cliffordcapital.sg/resources/ck/images/news/logo-pfi.jpg" alt="" width="199" height="164"></div><div class="flex-item"><img src="https://uat.cliffordcapital.sg/resources/ck/images/news/logo-marine-money.jpg" alt="" width="199" height="164"></div></div>Singapore, 9 April 2020&nbsp;– Clifford Capital Pte. Ltd. (“Clifford Capital”), a specialist provider of debt financing solutions globally to companies and projects with a nexus to Singapore in the infrastructure and maritime sectors, today announces that the USD700m senior secured term loan financing for the Gimi Floating Liquefied Natural Gas (“FLNG”) project (“FLNG Gimi” or the “Project”), has been awarded the&nbsp;“Offshore Project Finance Deal of the Year”&nbsp;at the 2019 Marine Money “Deal of the Year” Awards.This win closely follows Clifford Capital’s recent win at the 2019 Project Finance International (“PFI”) Awards, where the Project has been awarded the “African LNG Deal of the Year”.Clifford Capital, as Lead Coordinator and one of four Bookrunning Mandated Lead Arrangers (“BMLAs”), arranged a USD700m senior secured term loan (the “Facility”) to Gimi MS Corporation (the “Borrower”). The Borrower is jointly owned by Golar LNG and Keppel Capital on a 70:30 basis and the Facility was established to finance the development, construction and operation of the FLNG Gimi.The Project will see the conversion of a Moss LNG carrier at Keppel Shipyard in Singapore into a FLNG unit. When completed, the FLNG Gimi will be stationed at a nearshore hub located on the Mauritania and Senegal maritime border under a 20-year charter contract with BP in the Greater Tortue Ahmeyim field offshore West Africa.The Facility, which features a tenor of 10 years covering the pre- and post-delivery phases on the back of a 12-year amortisation profile, is the first limited recourse project financing for a FLNG vessel in the international commercial bank market. Clifford Capital assembled the four-bank group which includes ABN Amro, ING and Natixis to jointly structure, arrange and provide the underwriting commitment, followed by a syndication effort to bring in additional commercial banks for the financing.The BMLAs successfully syndicated the Facility to eight participating banks in September 2019, with the final bank group comprising 12 lenders, and achieved financial close in October 2019. Notably, the financing attracted strong interest from Asia-based banks, with a total of five Asian lenders, including three Singapore-based lenders, reflecting the robust demand for commercial financing of projects being developed by world-class yards and Sponsors with an established track record.“The award is a testament to our growing capabilities as a specialist provider of financing solutions globally. We are honoured to have played a significant role in developing this novel limited recourse project financing solution and in elevating a groundbreaking FLNG concept amongst the international banking community. Leveraging on our ability to structure bespoke innovative solutions, we will continue to address the market gaps in cross-border project and structured financing and fulfill our mandate of supporting Singapore companies in their key exports and catalyzing their growth in overseas markets” said Clive Kerner, CEO of Clifford Capital.The FLNG Gimi follows from the successful conversion of the world’s first FLNG conversion of Hilli Episeyo, which Keppel Shipyard delivered in record time and on budget to Golar LNG in 2017.Mr Chris Ong, CEO of Keppel Offshore &amp; Marine said, “As a leading provider of solutions to the offshore, marine and energy industries, Keppel O&amp;M welcomes the increased project financing support in Singapore, spearheaded by Clifford Capital. This encourages customers to take up innovative solutions like our FLNG franchise. Keppel O&amp;M’s pioneering solutions, engineering know-how and execution track record, complemented by the syndication expertise of commercial lenders such as Clifford Capital, will keep us at the forefront of developing winning solutions for the market.”Keppel’s participation as equity investor in addition to its role as EPC contractor is a strong reflection of its confidence in the prospects of the FLNG sector and its buy-in to the viability of the conversion concept. The long-term charter with BP provides further validation of this concept. The successful conclusion of this commercial project financing for the FLNG segment will pave the way for future financings of similar projects.“We are pleased to partner with Clifford Capital on the development of an innovative and fit-for-purpose finance solution for the FLNG Gimi. Keppel’s investment in the FLNG Gimi harnesses the diverse capabilities of the Group. Currently undergoing conversion at Keppel Offshore &amp; Marine, the FLNG Gimi is intended to be the first investment for the Keppel Asia Infrastructure Fund, which recently achieved its first closing,” said Ms Christina Tan, CEO of Keppel Capital.

Clifford Capital-led FLNG Gimi Financing Wins at 2019 PFI and Marine Money Awards

Singapore-based fund manager Pierfront Capital has raised US$200m in the first close of a new private credit fund, which will provide financing to real estate and other real asset sectors across Asia Pacific.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://apacrealestate.com/pierfront-raises-us200m-for-apac-private-credit-fund/">APAC Real Estate</a>

Pierfront raises US$200m for APAC private credit fund

Blue-chip hedge funds, which have been closed to raising new money for years, are now raising funds to take advantage of the market volatility. In Asia, private debt funds are gaining traction amid adjusted valuations and opportunities.Find out more in <a target="_blank" rel="noopener noreferrer" href="https://www.finews.asia/finance/31384-big-hedge-funds-raise-money-to-take-advantage-of-market-turmoil">finews.asia</a>