November 2014 – Astris to act as Financial Advisor in connection with the structuring of a limited-recourse domestic debt financing of a multi-use real estate project in Vietnam

Astris has been retained by a leading Malaysian conglomerate in connection with structuring ofVND 13,000 bn (eq. USD 575m) greenfield project consisting in the development, construction and operation of a Shopping Center in Ho Chi Minh City, as part of the Phase 1 of a large-scale multi-purpose real estate project to be comprised of hotels, residential and office towers

July 2013 - Landmark PPP Project in Mexico Reaches Financial Close

Astris Finance is pleased to announce the successful financial closing of the Mx$ 2,150 mm (USD 165 mm) Audi Platform project.

Watch the Project's video on YouTube at: http://www.youtube.com/watch?gl=US&client=mv-google&hl=en&v=a97mSYtCHR4&nomobile=1

The Project is developed by Mexican contractor Codesa under a new PPP framework in the State of Puebla, Mexico. The Project consists in delivering the necessary infrastructure upon which Audi´s new manufacturing plant will be built. The manufacturing plant is located in San Jose Chiapa, Puebla and will be responsible for worldwide production for the next Audi Q5 in 2016. Annual capacity is projected to reach 150,000 units. This is one of the most visible, strategic foreign direct investments in the auto manufacturing sector in the Latin America region.

The Project was awarded to CODESA by the State of Puebla. It was a structured as a public works contract under a PPP scheme called “Proyectos de Inversión” (Investment Projects). Under this scheme, CODESA is responsible for building the Project to meet Audi´s standards and raising the appropriate financing. During the construction period, the State of Puebla will issue acceptance certificates (“Certificados de Aceptacion Definitiva” or “CAD”) to CODESA as the works are completed. Each CAD represents an irrevocable and unconditional obligation from the State of Puebla to pay the amounts there included.  The Project is the first to be structured under the Investment Projects scheme. It is expected that it will be used for various infrastructure projects during the coming years in Puebla.

Astris Finance acted as mandated financial advisor to CODESA leading the structuring, negotiating, placement, and due diligence process. The financing takes the form of a senior non-recourse 15-year facility provided by Banco Interacciones and backed by the CADs. This facility is complemented by a Mx$260 mm (USD 20 mm) VAT facility.  One salient aspect of our mandate was the structuring and negotiation of an enhancement mechanism under which The State agreed to pledge remnants from its federal transfers to further increase the creditworthiness of the structure.

March 2013 - Astris Deal Receives Euromoney Deal of the Year 2012 Award

USD 200 m CEVASEP I & II Prison PPP Project was awarded this year’s award in light of its innovative contractual and financing structure, making it one of the very first state-level PPP’s in Mexico. 

NY, March 7, 2013 – Astris joined clients Indi and Idinsa of Mexico to receive the Latin American Social Infrastructure Deal of the Year Award granted by Project Finance Magazine. The USD 200 m CEVASEP I & II Project was awarded this year’s premium in light of its innovative contractual and financing structure, making it one of the very first state-level PPP’s in Mexico. 

Fabrice Henry, Managing Director, and Juan Francisco Toro, Director and Deal Team Leader, represented Astris at the award ceremony which took place at Cipriani’s and gathered the most active sponsors, financiers and advisors in the North American and Latin American markets.