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D.Bank, HSBC, Kfw Fix 3.5bn Euros Finance for Egypt Power Plants

Source: Ahram Online 4/13/2016, Location: Africa

Deutsche Bank, HSBC and KfW's Ipex Bank have arranged 3.5 billion euros ($4 billion) in financing for Egypt's state-owned electricity company EEHC to buy three gas power plants from Siemens, Deutsche Bank said.

The three are syndicating the debt to 17 international banks, with Deutsche Bank acting as coordinating bookrunner.

The financing is being underwritten by Germany's export credit guarantee agency Hermes, and the loans are guaranteed by the Egyptian Finance Ministry.

The first financing tranche for one of the three planned plants - part of Siemens' biggest-ever single order - was secured in November.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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