Middle East Economic Survey
Shuweihat S2 Financing Nears Completion After Margins Hiked
The long term financing for the Shuweihat S2 independent water and power project (IWPP) is close to completion, after the margins were hiked. Originally sponsors GDF Suez, Marubeni and the Abu Dhabi Water and Electricity Company (ADWEA) were seeking a starting margin of 225 bps over the London interbank offered rate (Libor), but this has now been hiked to 260 bps (page 1). The...