Clifford Capital leads in project financing for Sembcorp's Bangladesh power project
SINGAPORE-BASED Clifford Capital took the lead in extending project financing to Sembcorp Industries' Sirajganj power project in Bangladesh.
The project is the first green-field project financing concluded between the two parties.
Clifford Capital laid claim to extending the longest loan tenor for project financing in Bangladesh with the conclusion of this deal with Sembcorp.
The company in a statement on Thursday said the US dollar-denominated financing package comprises a combination of fixed and floating rate loans.
Jointly provided by International Financing Corporation and Commonwealth Development Corporation, the loans will benefit from credit enhancements from IFC and a partial risk guarantee from the Multilateral Investment Guarantee Agency. Clifford Capital, IFC and CDC each have a share of US$103 million in the total project finance debt.
The power plant will be developed by Sembcorp North-West Power Company, a joint venture between Sembcorp Utilities and Bangladesh's state-owned North-West Power Generation Company.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance