Principal (Lead), Structuring- Infrastructure Finance
Location: Milan (EMEA)
About Verdant Rock
Verdant Rock Limited is a Bermuda-based insurer, regulated by the Bermuda Monetary Authority as a Class 3B insurer and rated BBB+ (Stable) by Fitch Ratings and A (low) by Morningstar DBRS. It issues irrevocable, unconditional, on-demand financial guarantees on emerging-market debt exposures, designed to qualify as eligible credit protection under Basel III and Solvency II, for the vantaggi of institutions globally. The Structuring team screens, structures and prepares for underwriting the transactions Verdant Rock guarantees.
Role overview The Principal will lead a team of structurers specialised in infrastructure finance, whose work enables Verdant Rock to underwrite guarantees on project debt exposures across emerging-market infrastructure assets.
The Principal screens incoming infrastructure opportunities and serves as the first point of contact for that purpose, then leads the structuring of the transactions taken forward, so that each one reaches Underwriting fully analysed and in a form that can be assessed.
Key responsibilities
▪ Screen infrastructure and project finance opportunities and act as the first point of contact for sponsors, arrangers and counterparties during screening.
▪ Lead the structuring of guarantee terms on project debt: guaranteed amount and attachment, tenor and amortisation profile, DSCR and lock-up covenants, reserve accounts, step-in rights and intercreditor position.
▪ Lead the analysis of project risks and the mitigants available, including contractual protections, sponsor support, DFI and ECA co-financing and political risk cover.
▪ Interpret independent engineer, technical, market and insurance adviser reports and legal due diligence,
and translate their findings into structural protections.
▪ Manage the team of structurers: allocate transactions, set priorities and review modelling, due diligence and documentation work.
▪ Present structured transactions to Underwriting and ensure guarantee terms remain consistent with Basel III and Solvency II eligibility requirements.
▪ Contribute to infrastructure structuring standards and pricing guidance, and use market standard modelling software, data and analytical tools.
▪ Build senior relationships with sponsors, mandated lead arrangers, DFIs and ECAs, and develop the members of the team.
Qualifications and experience
▪ A minimum of 12 years' experience in project finance or infrastructure credit at a commercial bank, DFI, rating agency or infrastructure debt fund.
▪ A lead role in reaching financial close on multiple project finance transactions, and experience presenting transactions to credit committees.
▪ Mastery of financial modelling, transaction structuring and security packages, with the ability to review models and documentation independently.
▪ Ability to interpret independent engineer and other technical reports and legal due diligence reports.
▪ Thorough knowledge of project finance documentation, including common terms and intercreditor agreements, direct agreements, PPAs and concession agreements.
▪ Experience managing and developing a team of structurers or analysts.
▪ Fluency in English; other languages are an advantage.
Desirable
▪ Exposure to emerging markets.
▪ Experience structuring credit enhancement, such as financial guarantees, political risk insurance or partial credit guarantees.
▪ Experience at a rating agency.
About Verdant Rock
Verdant Rock Limited is a Bermuda-based insurer, regulated by the Bermuda Monetary Authority as a Class 3B insurer and rated BBB+ (Stable) by Fitch Ratings and A (low) by Morningstar DBRS. It issues irrevocable, unconditional, on-demand financial guarantees on emerging-market debt exposures, designed to qualify as eligible credit protection under Basel III and Solvency II, for the vantaggi of institutions globally. The Structuring team screens, structures and prepares for underwriting the transactions Verdant Rock guarantees.
Role overview The Principal will lead a team of structurers specialised in infrastructure finance, whose work enables Verdant Rock to underwrite guarantees on project debt exposures across emerging-market infrastructure assets.
The Principal screens incoming infrastructure opportunities and serves as the first point of contact for that purpose, then leads the structuring of the transactions taken forward, so that each one reaches Underwriting fully analysed and in a form that can be assessed.
Key responsibilities
▪ Screen infrastructure and project finance opportunities and act as the first point of contact for sponsors, arrangers and counterparties during screening.
▪ Lead the structuring of guarantee terms on project debt: guaranteed amount and attachment, tenor and amortisation profile, DSCR and lock-up covenants, reserve accounts, step-in rights and intercreditor position.
▪ Lead the analysis of project risks and the mitigants available, including contractual protections, sponsor support, DFI and ECA co-financing and political risk cover.
▪ Interpret independent engineer, technical, market and insurance adviser reports and legal due diligence,
and translate their findings into structural protections.
▪ Manage the team of structurers: allocate transactions, set priorities and review modelling, due diligence and documentation work.
▪ Present structured transactions to Underwriting and ensure guarantee terms remain consistent with Basel III and Solvency II eligibility requirements.
▪ Contribute to infrastructure structuring standards and pricing guidance, and use market standard modelling software, data and analytical tools.
▪ Build senior relationships with sponsors, mandated lead arrangers, DFIs and ECAs, and develop the members of the team.
Qualifications and experience
▪ A minimum of 12 years' experience in project finance or infrastructure credit at a commercial bank, DFI, rating agency or infrastructure debt fund.
▪ A lead role in reaching financial close on multiple project finance transactions, and experience presenting transactions to credit committees.
▪ Mastery of financial modelling, transaction structuring and security packages, with the ability to review models and documentation independently.
▪ Ability to interpret independent engineer and other technical reports and legal due diligence reports.
▪ Thorough knowledge of project finance documentation, including common terms and intercreditor agreements, direct agreements, PPAs and concession agreements.
▪ Experience managing and developing a team of structurers or analysts.
▪ Fluency in English; other languages are an advantage.
Desirable
▪ Exposure to emerging markets.
▪ Experience structuring credit enhancement, such as financial guarantees, political risk insurance or partial credit guarantees.
▪ Experience at a rating agency.