Abu Dhabi STPs reach financial close
- From: Vol 9, Issue 7 (July 2008)
- Category: General
- Region: Middle East
- Country: United Arab Emirates
- Related Companies: Abu Dhabi Commercial Bank, Abu Dhabi Sewerage Services Company, Abu Dhabi Water and Electricity Authority , Al Qudra Holding, Besix, Utilities Development Company and Veolia
The greenfield STPs which will serve Abu Dhabi and Al Ain have reached financial close. Abu Dhabi Commercial Bank’s USD408 million financing package remains unsyndicated.
Abu Dhabi and Al Ain’s new greenfield wastewater treatment plants reached financial close on 17 June. Abu Dhabi Commercial Bank acted as mandated lead arranger and sole lender on the project financing, providing USD408 million through a multi-tranche debt facility.
A USD320 million senior loan is accompanied by an USD80 million equity bridge loan and a debt service reserve ...
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