Copying and distributing are prohibited without permission of the publisher
SingSpring: Desal sings in syndication
01 December 2003
Read more:
[project financing]
[BOT]
[Public Private partnership]
Singapore's desalinated water project SingSpring came to market in mid-December, and set a new record for length of tenor, with its eighteen year S$158.5 million (US$93 million) project loan, which was oversubscribed.
SingSpring is controlled by Singapore based water company Hyflux Ltd, which early in 2003 won the tender to supply the Public Utility Board (PUB) with 30 million gallons of desalinated water per day via a Build Own Operate project. The plant is scheduled to commence supply of water to the state owned PUB by the second half of 2005.
The project financing's arrangers comprised: DBS Bank as lead arranger, facility agent, security trustee and account bank; KBC Bank as co-lead arranger and insurance adviser; ING Bank as co-lead arranger; and Standard Chartered Bank as co-lead arranger and technical adviser bank.
The syndicated senior project loan totalled S$158.5 million, or 80% of the total project cost,...
Take a free website trial to read this article. It’s easy to get a trial – just follow this link or email info@projectfinancemagazine.com.
Or, if you’re a subscriber or have an active trial, simply log in below to read the article.
Subscribe
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Subscribe
Free trial
Taking a free trial will give you access to the latest news and analysis, as
well as the online deals database, BenchBase. Start your free trial today.
Free Trial