It is now less than a month to Christmas, my favourite time of the year. As I did a search for Christmas tree, I discovered that there is such a thing as a fibre optic Christmas tree... which is fantastic as it would marry two passions of mine...

So, yet more news today in the Financial Times and a great article setting out the latest events this year in a field that is constantly redefining itself and in particular the shift towards infrastructure classification.

Hybrid debt products attractive to both infrastructure lenders and senior lenders are being rolled out to meet the enormous capex demand to build the network.

When you consider that only 5 percent of the territory in the UK covered, this gives you a scale of the need and to meet the need, cash is key.

Both capital and debt can be seen, but the interesting factor is the now clear overlap between infratructure financing and corporate financing.  We are still in the primordial soup and what is fascinating is there is no one set way of proceeding with each participant trying to find what works best from the viewpoint of their structure, their needs, their client base and the competition.

No doubt more to come very soon!