VOL. XLVII

No 12

22-March-2004

UAE

ENERGY FINANCE

Taweelah A2 Refinancing Deal Completed

The $541mn refinancing package for Abu Dhabis Taweelah A2 combined cycle power/desalination plant was signed on 15 March by the Abu Dhabi Water and Electricity Authority (ADWEA) and a consortium of local, regional and international banks. Of the $541mn, $150mn is an Islamic tranche, while the remainder is a conventional tranche. Bonds worth $135mn are also expected to be issued later on, although these will be...