Banks hold out for 11th-hour adjustment at S2
- From: Vol 10, Issue 9 (September 2009)
- Category: General
- Region: Middle East
- Country:
- Related Companies: Abu Dhabi Water and Electricity Authority , Bank of Tokyo-Mitsubishi, BayernLB, Calyon, GdF Suez, Japan Bank for International Cooperation, KfW, Marubeni, National Bank of Abu Dhabi, Natixis, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation
The deadline for refinancing the bridge facility to fund the Shuweihat 2 IWPP is fast approaching. Two of the original banks have pulled out of the deal.
The sponsors of the 459,000m3/d & 1700MW Shuweihat 2 IWPP in Abu Dhabi are confident of securing the $2.2 billion long-term debt package they need before – or soon after – the project’s existing $900 million bridge facility expires on 30 September.
“I’m pretty sure that we’ll get it closed by the end of the month,” a ...
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