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Overview
What is Project Financing?
Project financing is a funding solution used to support large-scale projects, such as infrastructure, energy, transportation, or industrial developments. Instead of relying primarily on a company's existing balance sheet, financing is structured around the project's expected cash flow and assets, helping businesses access the capital needed to bring complex projects to completion.
PGIM’s Approach to Project Financing
Funding a commercial project can be challenging, and we understand that every project is distinct in nature. We work closely with project sponsors, developers, and owners to structure tailored financing solutions that align with a project's long-term objectives. Drawing on experience across industries and a commitment to long-term partnerships, we support our clients through every stage of project development.
Who We Work With
Our Team
Matt Baker, CFA
Managing Director, Real Assets - Energy group
Ty Bowman, CFA
Managing Director, Real Assets – Power group
Brittany Braden, CFA
Executive Director, Real Assets – Energy group
Federico Chiaramonte
Executive Director, Infrastructure & Structured Credit group
Aaron Christopherson, CFA
Senior Director, Real Assets – Energy group
Callie Hamilton, CFA
Managing Director, Real Assets – Energy group
Steven Hendricks, CFA
Executive Director, Real Assets - Power group
Brian Lemons, CFA
Executive Director, Real Assets – Energy group
William Pappas
Managing Director, Infrastructure
Lennart Piro
Senior Director, Real Assets – Infrastructure & Structured Credit
Daryl Skinner, CFA
Senior Director, Europe & UK Infrastructure
Ingrida Soldatova, CFA
Executive Director, Real Assets – Power group
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Understanding Project Financing
Typical financing sizes include:
- Senior debt: $10 million to $300+ million
- Subordinated debt: $15 million to $150+ million
- Preferred equity: $10 million to $50+ million
Companies will generally pursue project financing to fund complex projects, such as infrastructure, power, midstream and energy infrastructure developments. In addition, it can be used to finance the purchase of new equipment, or even uncapitalized projects.
Collapse SectionFinancing can be structured as fixed- or floating-rate construction facilities, long-term term loans with customized amortization profiles and maturities of up to 30 years, or through subordinated debt, mezzanine capital, and equity investments featuring cash coupons, PIK components, and/or ownership positions.
Collapse SectionCompanies value our relationship-oriented approach, ability to provide follow-on capital as growth needs evolve, understanding of complex business requirements, and capacity to fund across the capital structure through senior debt, subordinated debt, and preferred equity.
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