VOL. XLV
No 31
5-August-2002
ABU DHABI
UWECSigns $950Mn Bridge Facility
On 29 July Fujairahs Union Waterand Electricity Company (UWEC), created by the Abu Dhabi Government in September2001 with a capital of $408mn (MEES,24 September 2001), signed a $950mn bridge facility with a group of local,regional and international banks. The facility includes a conventionalfive-year loan of $790mn which carries an up front fee of 15bps over Libor anda rate of interest of 37.5bps over Libor for the first...
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