Ad Dur financial close imminent
- From: Vol 10, Issue 7 (July 2009)
- Category: General
- Region: Middle East
- Country: Bahrain
- Related Companies: Calyon, GdF Suez Energy International, Gulf Investment Corporation, Korea Export Insurance Corporation, Standard Chartered Bank and US Exim Bank
The long-awaited financial close of the Ad Dur IWPP will provide welcome relief for GdF Suez. It will be the first Gulf IWPP to close this year.
Bahrain's 218,000m3/d and 1,234MW Ad Dur IWPP is on track to reach financial close before the end of July, with the first draw-down of funds scheduled to take place in the week beginning 19 July.
The $1.567 billion 8-year debt package is being arranged by Calyon, Standard Chartered and Mashreqbank, and will be split up ...
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