Middle East Economic Survey


No 10


YLNG Appoints Banks For Yemens First Project Financing

Yemens first project financing, Yemen LNG (YLNG), appointed its underwriters last week, seeing a strong response from key international banks, despite the credit crunch triggered by the US subprime mortgage crisis. The deal came in oversubscribed, and preliminary indications are that it attracted relatively low-cost funding for a country that does not even carry a sovereign credit rating...