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Yemen LNG – ECA-backed project
23 March 2009
ECAs conquer new frontiers
Read more:
Yemen
LNG
Kexim
Coface
Nexi
JBIC
gas
pipeline
LNG plant
This deal for Yemen represents the first long term hybrid project financing in the country involving multiple ECAs. What singles this deal out is the impressive length of the tenor of the transaction and the willingness of the MLAs involved to undertake a substantial uncovered loan despite Yemen's shaky credit rating. In addition to the logistically challenge final loan package, which signed in a record short time, especially given the size of the transaction.
The full loan amounted to $2.8 billion deal and involved seven banks and development financial institutions. Yemen LNG required financing to build a two-train liquefied natural gas (LNG) plant near Balhaf in Yemen's Gulf of Aden Coast....
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