The success of the European Investment Banks (EIB)
recently approved project bond programme will depend on the
efficacy of the first deal template, lawyers have said.
Following parliamentary approval this month, the pilot
phase of the EU 2020 Project Bond Initiatives (2020) will
launch this summer. Up to 230 million is to be deployed
by the EIB during this phase, and that has been at the
forefront of sponsors minds. In certain industries, the
public sector is requiring private sector bidders to use the
EIBs 2020 support.
While the programme is expected to ultimately succeed in
establishing capital markets as a more mainstream source of
project finance, much is dependent on a successful