Banks arrange financing

PUBLISHED : Thursday, 01 December, 1994, 12:00am
UPDATED : Thursday, 01 December, 1994, 12:00am

BANK of China Hong Kong and the Internationale Nederlanden Bank Hong Kong branch said they had arranged and lead-managed a six-year US$168 million limited course project financing for Shunde Sheng Power Plant Co.

The syndication loan is for the installation of a 273 megawatt combined cycle power plant for the Sino-foreign joint venture.

The total project cost is $250.2 million, of which $82.2 million will be contributed by the shareholders of the borrower in the form of equity.

The remaining 67 per cent of the project cost is provided by a syndicate of 21 international banks.

for financing the purchase of two diesel turbines, one steam turbine, capitalised interest and other costs.