|
|
Article: UAE.
- Article from:
- MEED Middle East Economic Digest
- Article date:
- February 5, 1999
CopyrightCOPYRIGHT 1999 MEED Middle East Economic Digest. All Rights Reserved. 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)
|
Project finance deals take shape
Two long-standing project finance facilities totalling almost $1,200 million are finally nearing completion, bankers close to the Taweelah A-2 power and water project and Thuraya Satellite Telecommunications Company scheme say (see Finance).
It is understood that the lead arranger of Abu Dhabi's first independent water and power project OWPP), Barclays Capital, has finalised the list of co-underwriters. Ten banks are expected to participate in the $578.5 million 17-year loan. Comprising an initial $556 million and a standby of $22.5 million, the loan will be priced at 105 basis points (bp) over Libor during the two-year ...