Wellington Sludge Minimisation

• Mafic assisted CIP to raise ~$450m under the Infrastructure Funding and Financing Act 2020 (IFFA) to fund Wellington City Council in constructing the Moa Point Sludge Minimisation Facility
• Mafic managed a competitive debt process to secure non-binding proposals from senior debt panel members, covering both institutional term loan and short-term bank debt. In addition, debt capital markets were tested
• A detailed evaluation was conducted, focused on identifying the most efficient capital combination of fixed and floating debt

Key value add

• Cemented IFF as ‘the’ funding model to bring private finance into the domestic New Zealand infrastructure market
• Established an efficient solution to accommodate fixed and floating rate debt, mitigating key risks within the IFF vehicle
• Cemented market precedent for interest rate swap tenor whilst tapping into a wide pool of global capital