The financing includes a $1.4bn project finance facility split between a $750m bank loan with a 12-year tenor, and three 16-year facilities guaranteed by export credit agencies Coface, Nexi and Kexim.
An additional $1.2bn loan has been provide by the seven mandated lead arranger and Calyon, with guarantees from Total.
Citigroup, financial adviser to the project, hopes to have completed the syndication process by the end of June 2008.
The mandated lead arrangers are Bank of Tokyo Mitsubishi, BNP Paribas, Citigroup, ING Bank, Royal Bank of Scotland, Societe Generale, Sumitomo Mitsui Banking Corporation.
You might also like...
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.