Investment bank Macquarie Capital has a mandate to advise Australia/Asia power group Sun Cable on funding options for its $30 billion-odd project.from local and regional investment banking teams.
Macquarie Capital’s bankers are working for Mike Cannon-Brookes and Andrew Forrest’s Sun Cable project in the Northern Territory.PwC is also involved in the structuring plans, while there’s also expected to be room for another firm on the funding ticket. Sun Cable announced PwC’s appointment in October, along with the appointments of Bechtel , Hatch , Marsh and SMEC .
Macquarie, PwC and the rest of the Sun Cable camp are understood to have started working on the financing plan, which is expected to involve trying to attract big syndicates of debt and equity investors.Infrastructure investors - the types usually encouraged to back long-life utilities in Australia - and bankers in charge of the big lending banks said they had yet to be pitched for funds.
John Howard sold out Australia, no wonder its Australia/Asia power group Sun Cable.