View news from   +  advanced search
You are here: Home Sectors Power Rugeley: Mini-perm – no rinse
Project Finance Copying and distributing are prohibited without permission of the publisher

Rugeley: Mini-perm – no rinse

01 December 2001

Read more: [BOT]

International Power's £190 million non-recourse financing currently out in the market breaks away from the standard profile of UK power deals. The unique characteristics of the Rugeley power plant have given rise to a mini-perm, a short-term loan, typically not repaid through project revenues alone. Instead project sponsors are obliged to refinance in order to amortize the facility.

Mini-perms are not a common feature of UK power deals to date but Rugeley may not be a one-off. Uncertain conditions created by the introduction of NETA (New Electricity Trading Arrangements) and a subsequent shift towards trading rather than long-term power purchase agreements suggest that short-term financings may be coming into fashion.

International Power acquired the 1000MW coal-fired power plant from TXU in June 2001. ING Bank and TD Securities scooped the mandate to take the purchase off balance sheet. This is now underway, with debt being raised through special purpose vehicle,...

Latest Deals Database updates

Oving Solar Farm Update date 24/05/2013
Sector Renewables > Solar PV
Country Europe - EU > UK
Total Debt Loan Amount $m11.42
Status Signed
Mombasa Kwale Mining Project Update date 24/05/2013
Sector Mining/Metals > Coal
Country Africa > Kenya
Total Debt Loan Amount $m170
Status Financial close
Queensland Schools PPP Update date 24/05/2013
Sector Social Infrastracture/PPP/P3/PFI > Schools
Country Asia Pacific > Australia
Total Debt Loan Amount
Status Prequal

Most read in past 24 hours

  1. Five join Moapa solar bank tranche

  2. CPV seeks mini-perm for Woodbridge

  3. Origin halts negotiations to sell down APLNG stake

  4. Cheniere cuts Sabine Pass pricing, nears close

  5. Enel to increase stakes in two US wind farms

  6. InterGen refinancing launches

  7. Protests stall Mareña construction

  8. ACWA increases stake in Shuqaiq IWPP

  9. Four shortlisted for Queensland schools PPP

  10. DFIs line up for Izmir Marine Transport

Change font size: Switch to default font size Switch to medium font size Switch to large font size
back to top

Home

Sectors

Data & People

My Account

Information

Event Diary


Deals Of The Year


Jobs


Directory


Supplements


Site Links


All material subject to strictly enforced copyright laws. © 2013 Euromoney Institutional Investor PLC.