Financing Structure | |
The State will evaluate: | The appropriateness and robustness of the financing structure. |
In evaluating this criterion, the key issues that will be considered include: | • the appropriateness of the proposed financing structure, including: - the nature of each form of financing; - the quantum of each form of financing; - the terms of the financing; - the level of gearing; and - the timing of capital components coming into the financing structure; • the competitiveness of the pricing and other terms of the financing structure, including draw stop provisions; • the extent to which the financing structure[, including to finance Pre-Agreed Modifications,] provides flexibility and addresses current issues in financial markets; [Guidance note: Delete if Section 5.4.7 (Pre-Agreed Modifications (PAMs)) of Volume 1, Part A (General Information and Instructions to Respondents) is not included in the RFP for the Project.] • the financial robustness of the capital structure during the Development Phase and the Operating Phase; and • the appropriateness of the proposed payment arrangements between the State and Project Co, including the structure of the Service Payments. |