VOL. XLII

No. 18

3-May-1999

UAE

Taweelah A-2 $578.5Mn Loan Underwriting Finalized

On 28 April the Barclays-led consortium of regional andinternational banks signed a $578.5mn facility with CMS Energy for thefinancing of Taweelah A-2, the UAEs first independent power plant. A Barclaysspokesperson confirmed that the underwriting stage has been finalized with aconsortium of nine banks. The 17-year facility is priced as follows: 105bpsover Libor for the first two-year construction phase, 80bps for the...