SCPE invests $75m in Asian gas project developer
Standard Chartered Private Equity (SCPE) has invested $75 million in Asia Pacific gas specialist Energy World Corporation (EWC) through a corporate exchangeable bond issue. The capital will be used to support liquefied natural gas (LNG) projects in the Philippines.
According to a regulatory filing, the bond has a five-year tenure and a 2.5% cash coupon. EWC, which trades on the Australian Securities Exchange, is a longstanding client of Standard Chartered Bank.
"We believe that EWC, which has significant experience in developing energy-related infrastructure in Asia, is uniquely positioned to capitalize on the increasing importance of LNG as a fuel source in the region," said Kanad Virk, managing director at SCPE.
EWC owns several gas projects across the region, including the Philippines, Indonesia and Australia. It is currently focused on expanding its LNG operations, including the construction of a LNG receiving and regasification terminal and an associated gas-fired power plant on the Philippines' Quezon province.
More on Industrials
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.