Bank of Ireland’s project finance unit is growing rapidly, with a substantial deal flow of international project financings, including PPPs. According to Deirdre Flannery, head of project finance in BoI, the unit has over sixty international transactions on its books and the team of eight people is set to grow significantly.
BoI’s average participation size in an international project finance deal is Stg20m, with PPP projects completed so far including toll roads and bridges in the UK, Greece and Portugal, and a Scandinavian rail link. The unit is currently looking at larger projects which could involve underwritings of between Stg50 - Stg100m. According to Flannery, BoI’s international experience will leave it in poll position when the Irish PPP market goes into full swing. ‘We’re optimistic about prospects in Ireland’, she says. ‘Our international experience with our knowledge of the Irish market should leave us well placed to play a central role’. |