Citi closes Vietnam ECA power deal

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26 May 2011

Citi has signed a Nexi-backed financing for transmission projects in Vietnam with the Development Bank of Japan and Sumitomo Trust and Banking Corporation.

Citi Vietnam today announced the completion of the export credit agency-supported debt financing arrangement for the National Power Transmission Corporation (NPT) in Vietnam. The financing package has a total value of $200 million and tenor of 13 years, and will be used for power transmission projects.

The financing is guaranteed by Vietnam’s Ministry of Finance and insured by the Japanese Export Credit Agency Nippon Export and Investment Insurance (Nexi) under its Overseas Untied Loan Insurance Programme. Under this facility, Citi is the sole Nexi coordinator as well as the joint lead arranger together with Development Bank of Japan Inc (DBJ) and...

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