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Article: tabreed signs us$ 100 million credit facility.
- Article from:
- Middle East
- Article date:
- April 11, 2007
CopyrightCOPYRIGHT 2007 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Tabreed, the Middle East's award-winning district cooling pioneer, has signed a US$ 100 million revolving credit facility with a group of financiers led by BNP Paribas to fund further expansion of the company's operations. The Facility has an initial maturity of one year and is subject to two 12 month extension options at each lender's discretion. The Facility has a margin of 45 basis points (bps) per annum and a commitment fee of 13.5 bps per annum. The extension fee where applicable will be five bps flat per extension. "Tabreed has won many new contracts recently which necessitate further investments to build plants that will supply cooling to all these new ...
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