Lead arrangers on the deal were Calyon, Citigroup and Sumitomo Mitsui Banking Corporation. Japan Bank for International Cooperation (Jbic) put $1.3bn into the project. The funding had been targeted to complete by 13 December, but was not concluded until the deals final completion date of 20 December.
Banks included in the syndication are HSBC, ING Bank, Mashreqbank, National Australia Bank, National Bank of Abu Dhabi, Standard Chartered and bank of Tokyo Mitsubishi.
The project, which is being developed by International Power and Marubeni, involves the construction of a 2,000MW power plant and a 130 million gallons a day desalination plant in the emirate of Fujairah.
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.