Ad Dur financing set for over-subscription
- From: Vol 10, Issue 5 (May 2009)
- Category: General
- Region: Middle East
- Country: Bahrain
- Related Companies: Al Rajhi Bank, Arab Bank, Bank of Tokyo-Mitsubishi, Banque Saudi Fransi, BayernLB, Calyon, Export Development Canada, Fortis, KBC Bank NV, KfW, National Australia Bank, Riyad Bank, Societe Generale, Standard Chartered Bank, US Exim Bank and WestLB
The debt arrangers for the Ad Dur IWPP in Bahrain are confident of securing final commitments from banks. They had to sweeten the terms slightly to get the deal away.
The $1.7 billion debt package for the 218,000m3/d and 1,234MW Ad Dur IWPP in Bahrain is on schedule to achieve financial close by the end of May – or soon thereafter.
Arrangers Calyon, Standard Chartered and Mashreqbank had secured firm commitments for $1.4 billion by 10 May, and were expecting another five institutions – whose credit committees ...
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