The first stage of syndication closed in December 2007 with 14 banks providing between $30-60m in financing, in a $1.34bn, 22-year term loan. A further loan came from Japan Bank for International Co-operation.
An additional $565m three-year bridging loan was provided by Calyon and Sumitomo Mitsui Banking Corporation, who also acted as financial arrangers on the deal with Citigroup.
The F2 plant will produce 2,000MW of power and 130 million gallons of water a day when it is completed in 2010.
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.