Middle East Economic Survey
Shuweihat S2 Financing Completed
The long term financing for the Shuweihat S2 independent water and power project (IWPP) was signed with banks on 15 October, MEES learns. The bank margins ranged from 260 bps over the London interbank offered rate (Libor) to 290 bps, with the initial starting margin flexed from the original offering of 225 bps, which made the deal more palatable to banks (MEES, 17 August). The 22-year tenor financing...