VOL. XXXV

NO. 41

13-JULY-1992

Financial and Banking News

Financing in Place for Third Stage of Algeria's Gas Line to Italy

Transmediterranean Pipeline Company, a joint venture between Snam S.p.A.,Ente Nazionale Idrocarburi (ENI) and Algeria's Sonatrach, has signed two loanstotaling $260mn which will finance the third stage of Algeria's gas pipeline toItaly. The loans, which were signed on 3 July, were arranged by Morgan Grenfell.A $200mn buyer credit has been guaranteed by the Italian export...