Business World

Wednesday 18 January 2017

Wind Capital shuts project financing

Published 20/01/2012 | 05:00

FUNDING

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Wind Capital Group, the US wind energy firm controlled by Ireland's NTR, has closed the financing for a 201MW project in Kansas. The $350m (€270m) in debt facilities will support the construction and operation of the project, which is expected to come on stream later this year.

Second-lowest bond coupon for CRH

bonds

CRH achieved its second-lowest coupon ever on the €500m, seven-year bond it issued this week, at 5pc. It's also the lowest coupon ever achieved by the group for a bond with a maturity of more than five years. The issue was heavily over-subscribed, with 280 investors in Europe and the US placing €4bn worth of orders for the bond.

Bord Gais, DAA and ESB are upgraded

RATINGS

S&P has improved its rating outlooks for Bord Gais, Dublin Airport Authority (DAA) and the ESB by moving them from 'CreditWatch negative' to 'negative outlook'. The actual ratings for the borrowers were left unchanged. The move followed S&P's review of Ireland's rating last Friday, when the Government's rating was left unchanged but prospects for the rating were changed to 'outlook negative' from 'Creditwatch negative', -- the latter would imply a possible downgrade over the near term. Credit ratings of state-owned enterprises are directly linked to the national finances. Passengers at the state airports rose 1pc in 2012.

Bank of America reveals $1.4bn profit

FINANCE

BANK of America, which employs more than 1,000 people in Dublin and Carrick-on-Shannon, reported a $1.4bn (€1.08bn) profit in 2011, wiping away a brutal loss the year before amid savage streamlining of the firm. Meanwhile, Morgan Stanley reported a $4.2bn profit for 2011.

Oil price down amid positive US reports

CRUDE

The price of benchmark oil ended a little lower yesterday following economic reports that pointed to an improving US economy. Jobless claims fell, consumer prices were steady and the dismal home construction market showed signs of life at the end of 2011.

Irish Independent

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