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Taishan – ECA-backed project
23 March 2009
Landmark China power project
Read more:
Coface
Taishan
CDB
Bank of China Areva
HSBC
SG CIB
Calyon
Sarkozy
CGNPC
This nuclear power plant financing is the largest Coface buyer credit transaction ever granted to China and the first ECA-backed Chinese nuclear deal to date. The arrangers used an innovative approach, using banks as borrowers who were then prepared to on-lend to the nuclear company allowing the lenders to adopt longer repayments.
The deal created a tailor-made co-borrowing structure set up by the Chinese parties to implement the risk sharing between the borrowers on the project company under the on-lending facility, paving the way for arranging future large ECA financing of this type in China. The deal is a worthy winner for establishing key firsts in this type of financing and setting a new...
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