Global XTL Summit Series - Enablers and Barriers to Project Financing

In his 34-year tenure at Citigroup, David Livingstone has assisted corporate clients and state and local governments raise more than $40 billion of tax-exempt and taxable bonds and equity for infrastructure projects primarily on a project finance basis. He is specialist in financing waste-to-value projects. Additionally, he has financed a wide variety of asset classes, including petrochemical facilities; rail and transit; public and private toll roads and managed lanes; waste-to-energy facilities fueled with animal waste, organic waste, waste coal, municipal solid waste, tires and wood waste; airports; hotels and water and wastewater treatment plants. He was lead banker for many noteworthy projects including:

• $867 million in May and August 2016 and November 2018 for Natgasoline LLC, the largest methanol production facility in the US. Citi replaced another underwriter, who was unable to complete the financing.

• $1.3 billion in May 2013 and March 2019 for Iowa Fertilizer Company, a world scale nitrogen fertilizer production facility which is the first new fertilizer facility constructed in the US in more than 20 years and, when issued, was the largest non-investment grade financing ever completed in the tax-exempt market. The offering was awarded Project Finance’s North America Petrochemicals Deal of the Year.

• $302 million in May 2017 and July 2019 for CalPlant, the first rice straw to medium density fiberboard project in the world. Citi was hired after another underwriter was unable to complete the financing.

He is well familiar with tax, accounting, credit and other issues related to financing facilities on a project finance basis. David has a BS degree in Civil Engineering from Brown University and was a registered Professional Engineer.

Nico has been in leadership roles in the energy business for over 25 years. Nico sees the energy industry through an international lens as he has worked in North and South America, Africa, and the Middle and Far East within the petrochemical, transportation, mining, and oil and gas industries. Nico has led several significant business transformations and project development portfolios.

As the president and CEO of the Cerilon Group, Nico's core areas of focus are environmentally friendly, low carbon, energy, infrastructure and downstream beneficiation. This includes gas-to-liquids (GTL), bio-to-liquids (BTL), liquified-natural-gas (LNG), and renewables. Established in 2009, the Cerilon Group exists to provide global energy security with an approach that is strategic, courageous, intentional, and sustainable. Cerilon is committed to helping business lead changes toward a new energy future.

A co-founder of Insurance Risk Partners, Paul possesses more than 25 years of experience as a broker and consultant to the power generation and energy sectors. He has designed, implemented and supervised comprehensive risk management programs for a wide variety of companies with investments in all aspects of the power and energy industries. Paul brings his expertise in a diverse portfolio of worldwide power and energy operations that forms the foundation of IRP’s Power and Energy Practice.
Paul’s expertise in complex property risks, creative authorship of widely accepted policy language, and his reputation for ardent client advocacy on claims have earned him broking and consulting work on a global scale. Working with domestic and international insurance markets, he has developed risk management and insurance programs for various infrastructure projects across North and South America, Europe, Asia and Australia.
Paul was previously the Managing Director of Arthur J. Gallagher’s Power and Utility Practice and General Counsel at Meyers-Reynolds & Associates, Inc.