Street Talk

NSW government hunts bankers for tolls showdown with Transurban

Sarah Thompson, Kanika Sood and Emma Rapaport

Aug 20, 2024 – 5.00am

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The NSW government has invited investment banks to pitch their services for the second round of the biggest shake-up in the state’s toll roads, which has already singled out Transurban as public enemy No. 1.

Sources said that investment banks’ infrastructure teams began receiving requests for proposals over the weekend, and the responses were due early next week. On offer is the opportunity to act as the NSW treasury and transport’s lead financial adviser on changes to the tolling system expected by the year-end – a not particularly lucrative role, but still coveted by bankers given its proximity to the corridors of power.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com