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Nord Stream 1 – ECA-backed project
02 March 2011
Nord Stream piped to perfection
Nord Stream Phase 1 was signed in March 2010 and is a landmark project and transaction not just in the European context, but also on a global basis. It is a ground-breaking project of key strategic importance to the EU and Russia. It is a high quality project with compelling rationale, top notch shareholders, elegant technical solutions and robust contractual structures
It is also a project which saw the export credit agencies (ECAs) step up to the plate with over a3 billion ($4.25 billion) in guarantees. The syndication was a success for the sponsors, with 60% oversubscription despite a launch in difficult market conditions in September 2009....
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