VOL. XLVI

No 40

06-October-2003

UAE

ENERGY FINANCE

Umm Al-Nar Completes Syndication

The partners in the Umm Al-Nar electricity generation/water desalination project in Abu Dhabi have completed the syndication in their $1.77bn financing, which includes $440mn, a $229mn conventional loan (equity bridge) of a 5-year duration for asset acquisition, and $1.105bn divided between an $850mn conventional loan (20 year tenor) and a $250mn Islamic facility. The banks coming in at syndication level include...