September 21, 2014 11:33 PM ET

Capital Markets

Company Overview of Borealis Infrastructure Trust

Company Overview

Borealis Infrastructure Trust engages in investing in and facilitating the financing of infrastructure projects through the issuance of bonds under a master trust indenture that permits the issuance of separately collateralized bonds in Canada. The company was founded in 1999 and is headquartered in Toronto, Canada.

Royal Bank Plaza South Tower

200 Bay Street Suite 2100

PO Box 56

Toronto, ON M5J 2J2

Canada

Founded in 1999

Phone:

416-361-1011

Fax:

416-361-6075

Key Executives for Borealis Infrastructure Trust

Chief Executive Officer and President
Executive Vice President
Executive Vice President
Age: 55
Executive Vice President and Director
Senior Vice President of Borealis Infrastructure Trust Management Inc
Compensation as of Fiscal Year 2014.

Borealis Infrastructure Trust Key Developments

Bidders Reportedly Emerge For E.ON's Spanish Assets

Bidders are readying indicative offers for the Spanish assets of E.ON SE (DB:EOAN), three sources familiar with the matter told Reuters, adding bids would value the whole portfolio at about €2 billion. Parties expected to submit non-binding bids for all or some of the assets include CVC Capital Partners Limited; a consortium consisting of Borealis Infrastructure Trust and EDP; as well as a group comprising Riverstone Holdings LLC and Alpiq Holding AG (SWX:ALPH), the people said. Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR), Macquarie Group Limited (ASX:MQG) and Grupo Villar Mir, S.A. are also expected to express an interest, they said, adding it was not immediately clear whether they were part of a consortium or bidding alone. First bids are expected to be submitted by an August 11, 2014 deadline, the sources said. Other bidders for the Spanish assets could include Enel SpA (BIT:ENEL), which last week said it was interested in parts of the portfolio, without being more specific. Burdened by €31.1 billion in net debt, a collapse in wholesale power prices and the demise of its traditional generation business, E.ON is exploring the sale of its country operations in Italy and Spain, sources have told Reuters. The power grid is expected to be one of the most attractive assets of E.ON's portfolio. E.ON, CVC, KKR, Riverstone, Macquarie, Borealis Infrastructure, Alpiq and Grupo Villar Mir all declined to comment, and EDP was also not immediately available for comment, Reuters reported.

DUET To Not To Bid For Queensland Gas Pipeline Of BG Group

As infrastructure investors pore over the AUD 3 billion Queensland gas pipeline on offer from BG Group plc (LSE:BG.), DUET Group (ASX:DUE) for one has decided not to lodge an indicative bid by the August 28, 2014, reported Australian Financial Review. Duet and other listed players such as Spark Infrastructure Group (ASX:SKI) are expected to find it hard to compete against some unlisted rivals, while the structuring of the sale as a passive investment reduces its attractiveness for pipeline operators such as DUET and APA Group (ASX:APA). Even so the auction should be hotly contested, with many parties taking a very close look, Borealis Infrastructure Trust, Cheung Kong (Holdings) Limited (SEHK:1) and Hastings Funds Management Limited among them, plus potentially APA's unlisted Energy Infrastructure Investments Pty Limited.

Cleco Reportedly Appoints Goldman Sachs As Advisor On Sale Process

Cleco Corporation (NYSE:CNL) has retained The Goldman Sachs Group, Inc. (NYSE:GS) to advise on a sale and will kick off the process later in the week ending June 20, 2014, reported The Street citing two sources familiar with the matter. The sources added that Cleco received an unsolicited bid from Borealis Infrastructure Trust, and in response, the Board voted to launch a process. A source said that it will be a large deal for any infrastructure funds, as they will have to write a $3 billion equity check for the company. According to a person familiar with the situation, Cleco is seeking something in the range of $61 to $62 per share. Sources also said that Matthew Gibson led the advisor team of Goldman Sachs. Cleco declined to comment, and calls to Goldman Sachs and Borealis by The Street were not returned.

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Merger/Acquisition
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