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Article: tabreed signs us$ 100 million credit facility
- Article from:
- Al Bawaba
- Article date:
- April 11, 2007
CopyrightCopyright 2007 Al Bawaba. Provided by ProQuest LLC. (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 developments," said Mohammed ...
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