Major Projects Bond Market | Pre-registration
PFX (Project Finance Exchange) Bonds align the global insurance, institutional and private capital markets to create a deeply liquid capital pool for the $multi-trillion major projects market. Investors can now benefit directly from energy, infrastructure, hospitality and other major projects worldwide.
Invest in hard, tangible, revenue generating projects underwritten by insurers carrying A-or better ratings from AM Best, Fitch, Moody's and Standard & Poor's. These ratings automatically transfer to your bonds.
PFX Bonds Underwriting and Insurance Wrap (Wrap)
The project finance structure is unique in that investment is predicated on the track record and financial stability of whoever is contracted to buy the output from the built project, and not the assets or balance sheet of the borrower. These same criteria apply to contractors, feedstock providers and all other counterparties to the project.
While traditional corporate bonds are grounded largely in forecasts, PFX Bonds are grounded in fully underwritten contractual certainties.
For capital raising projects (Issuers), PFX Bonds overcome the opacity of the current fragmented market reliant on time-consuming and costly structured finance, with a more traditional bond market built around long established project finance protocols. Minimum bond issue value is $/€50m with an upper limit of $/€500m through our launch phase. This will move to ‘No upper limit’ once all systems have bedded in.
From this page you can go forward to pre-register, free, as a PFX Bond Issuer (Projects), Issuing & Fiduciary Agent (Agent) or Subscriber (Investor). If you register as an Agent (investment banks. private debt/equity funds etc) you will have the option to add yourself to the Subscriber (investor) register where retail investors can find you.
At the initial stage there will be no trading in PFX Bonds. This will be compensated for by the 50 to 250 basis point 'lift' to interest rates. PFX registered investors are already diverting their pipelines to PFX Bond issues to provide our maiden listings.
We will notify you when we are ready to take your full registration, please see further pre-registration details in your relevant zone.
The PFX Bond market is structured around three key roles.
1. Subscribers (Investors)
Opportunities include energy (O&G and renewables), infrastructure, hospitality, healthcare, agriculture, transport & distribution and all other key sectors. Most will deliver environmental and socio-economic benefits in developing countries, as well as mature economies.
To be a Subscriber you must be registered with the financial regulator for your jurisdiction. PFX Bonds are fixed income with the term dependent on value, nature of the project and other factors, usually between five and 15 years, but sometimes longer. For wealth/asset managers, you have the option of a free listing on the PFX site so that retail investors can quickly identify and contact you should they wish to build their own PFX Bond portfolio.
2. Issuers (Projects)
For those raising project finance, there is now a straightforward route to a genuine, global capital market for major projects, across all sectors worldwide. You will be able to identify your Issuing Agent, by location, from their listings on the site. They will assist with developing your prospectus and data-room, as well as statutory and logistics matters in preparation for your listing and distributing your Bond offering to subscribers.
3. Issuing & Fiduciary Agents (Agents)
The role of PFX Bond Agents is open to all established regulated financial service providers, preferably with experience in the unique project finance structure and the management responsibilities inherent to issuing bonds. Issuers will be able to identify and submit their projects to you from your listing at the PFX site. Further details for prospective Agents in the 'Agents' zone.
Thank you for pre-registering with the PFX major projects bond market. Please select your pre-registration preference:
Issuer (Projects) | Agent (Issuance & Fiduciary) | Subscriber (Investor) | Media