Banks board ELNG

29 July 2005
Egyptian LNG(ELNG)has signed the documents for the $880 million financing package on its second train project at Idku. Financial close and first drawdown is expected in September.
Egyptian LNG(ELNG)has signed the documents for the $880 million financing package on its second train project at Idku. Financial close and first drawdown is expected in September.

The debt package comprises:

A $180 million local loan tranche lead arranged by Commercial International Bank, National Bank of Egypt, Misr International Bankand National Societe Generale Bank;

A $411 million, 12-year international loan facility lead arranged by 22 banks made up of Arab Petroleum Investments Corporation, Arab Bank, Banca Intesa, Bank of Tokyo-Mitsubishi, Bayern LB, BNP Paribas, Calyon, Dexia, Fortis, HSBC, HVB, ING Bank, KBC Bank, Kreditanstalt fuer Wiederaufbau, Maybank, Mizuho Financial Group, Royal Bank of Canada, Royal Bank of Scotland, San Paolo IMI, Societe Generale, Standard Chartered Bankand West LB;

Two $144 million, 20-year loans provided and guaranteed by the European Investment Bank (EIB).

www.meed.com/bankingfinance

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