Deutsche Bank, United Kingdom
Mike Redican is a Managing Director, Global Credit Structuring, in the Global Markets division at Deutsche Bank and is primarily responsible for the structuring, negotiation and execution of structured transactions in the infrastructure sector. He has 30 years banking experience having worked in Corporate Banking, Structured Finance and Project Finance. He has worked on power, infrastructure, oil and gas, mining and utility transactions in UK, Europe, Asia, Middle East and USA.
Mike has worked on a number of landmark transactions in the infrastructure/PPP sectors such as GCHQ Dartford Hospital (the first PFI hospital deal closed in the market) and the Metronet PPP deal where he acted as financial adviser to the Board of Metronet raising £2.6bn from the markets and EIB and acted as Lead manager on the bond issue. He has been involved in a number of successful capital market transactions in the PFI/PPP market. Deals Mike has successfully closed include Manchester, Havering and Blackburn hospitals and PPP Ostregion – the first transaction to be financed using a “drawdown bond” solution. He also executed the £1.02bn Capital Hospitals transaction – the largest PFI index linked transaction in the UK market to date.
Mike also has developed a number of innovative financing structures such as Eiffel FTC in Portugal which was the first transaction to monetise construction contract receivables and was awarded runner up for the ISR European Deal of the Year award. Mike led the team that closed Project Solaris in Spain – the first solar power project in Europe to be financed using a capital markets £2.8bn Eurotunnel restructuring transaction. Having begun discussions with the company at a time near bankruptcy, he implemented a new capital structure (arranged by DB & GS) to provide a long term solution for Eurotunnel. It was awarded Restructuring Deal of the Year (IFR 2007) and European Deal of the Year (ISR 2007).
In January 2010 Mike closed the £510mn high yield bond financing of Manchester United FC – the first deal in the UK high yield market for a football club and was sold to investors from the US, UK and Asia.
Mike is working on a number of acquisition and refinancing deals in the infrastructure/utilities sector in UK, Europe and the Middle East. He was responsible for coordinating and leading the sales process of the €1.3bn R1 PPP road project in Slovakia one of the largest PPP bond transactions undertaken to date in the Capital Markets. Currently he is leading the DB team on the financing of the A11 PPP transaction in Belgium, which is using a capital markets solution and the EIB Project Bond Credit Enhancement Facility (PBCE) to finance a Greenfield construction project. The deal is due to close at the end 1st quarter 2014 and will be the first used on a Greenfield project with construction risk. He is also working on the structuring and arranging debt for the Perdana hospital PPP project in Malaysia which will be a landmark deal when completed.
Mike was a Commissioner of the London First Transport Connectivity Report in 2012 and is a member of TheCityUK’s Infrastructure and Energy Group.
He is a Member of UNECE PPP Business Advisory Board since January, 2014.