Ad Dur financial close set for 31 May
- From: Vol 10, Issue 3 (March 2009)
- Category: General
- Region: Middle East
- Related Companies: Al-Rajhi, Banca Intesa, Banque Saudi Fransi, BayernLB, Calyon, Fortis, GdF Suez Energy International, Gulf Investment Corporation, Islamic Development Bank, KBC Bank NV, KfW, Mashreqbank, National Australia Bank, Société Générale, Standard Chartered Bank, US Exim Bank and WestLB
The international response to the Ad Dur financing has been positive – if protracted. Some last-minute renegotiation may be required.
The banks arranging $1.7 billion of debt for the 218,000m3/d and 1234 MW Ad Dur independent water and power project in Bahrain are confident they will receive all necessary commitments before the end of March.
The process has taken longer than Calyon, Standard Chartered and Mashreqbank had hoped when they launched the debt package in mid- January ...
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