Emal opts for ECA debt

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12 July 2010

Three export credit agencies have signed agreements to provide loans and guarantees for the Emirates Aluminium project in the United Arab Emirates – augmenting the original financing.

Three export credit agencies (ECAs) have signed financing agreements to support the financing of the Emirates Aluminium (Emal) project in the UAE. The agreements total $737 million for a term of up to 15 years and augment the original financing agreement signed in 2007. Emal had planned to raise up to $2 billion in the bond market after financial close on a $4.8 billion...

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