Middle East Economic Survey


No 31


RasGas 2/3 Financing Pits Bank Market Against Bond Market

RasGas 2/3 has appointed its mandated lead arrangers for the bank tranche of its expansion financing; but the extent of funding they will provide to the project will be determined by the success of the bond tranche when it hits the market later this week. This is an unprecedented move in energy financing because it directly pits the cost of raising bank debt against that of raising...