No. of Recommendations: 2
In following up on some of the questions I had after reading the Q1 results, of the $567m in maturing debt at the Transport & Energy division, about $480m of it relates to NGPL (the N Am gas pipeline). With BIP and its partners upping their equity stakes to reduce the debt at this hampered operation, I think the remaining $87m or so should be manageable.

As for next year in the Utilities division, $350m is related to the UK distribution business, which saw a slowdown in Q1, but has been doing pretty well, so I don't see a major threat here.

Another $210m is related to Dalrymple. As 100% of the terminal's capacity is under take-or-pay until 2018, refinancing shouldn't be too difficult.

So this is reassuring as far as the ability to get things refinanced, but this is always going to be something to keep an eye on, especially as banks clench in preparation of Greece exiting the euro and any potential knock-ons.
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