Shuweihat 2 financing oversubscribed
- From: Vol 10, Issue 10 (October 2009)
- Category: General
- Region: Middle East
- Country: United Arab Emirates
- Related Companies: Abu Dhabi Water and Electricity Authority , BayernLB, BNP Paribas, GdF Suez, HSBC, Japan Bank for International Cooperation, KfW, Marubeni, Mizuho Corporate Bank, National Bank of Abu Dhabi, Natixis, Saudi American Bank (SAMBA), SMBC, Standard Chartered Bank and Sumitomo
The sponsors’ refusal to budge on the cost of the Shuweihat 2 financing package proved prescient. A tightening in the wider market even drew in a few last-minute subscribers.
As GWI went to press, thirteen commercial banks had signed up to a $950 million 22-year loan, which will form part of the $2.2 billion term financing package for the 459,000m3/d and 1700MW Shuweihat 2 IWPP in Abu Dhabi. Financial close is scheduled to take place during the week of 26 October.
The $950 milion commercial tranche ...
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