VOL. XLVI

No 42

20-October-2003

ALGERIA

ENERGY FINANCE

French Banks To Part Finance $105Mn Purchase Of Three Algerian LPG Carriers

Societe Generale/Fortis and BNP Paribas are to finance 70% of the acquisition of three liquefied petroleum gas (LPG) carriers by Algerias national oil and gas company Sonatrach for $105mn, the company announced on 11 October. The Societe Generale/Fortis pairing will finance a 12-year Japanese export credit at a cost of 1.50% (equivalent to 34 bps over Libor), while BNP...