Viking Interconnector Denmark-UK - SACE\Euler Hermes Covered Loan

Borrower (s)

National Grid North America Inc.

Industry

Power/Electricity transmission

Area of finance

Project & Infrastructure Finance

Country

United Kingdom

Deal Overview

Multi export credit agency-covered green loan, guaranteed by SACE with SIMEST CIRR support and Euler Hermes, to help finance a €2 billion subsea electricity cable project between UK and Denmark named Viking Link.The $743 million ECA-backed financing package, made up of $488 million from SACE...

The $743 million ECA-backed financing package, made up of $488 million from SACE Export Credit and $255 million from Euler Hermes Export Credit, was structured under National Grid’s Green Financing Framework. It represents the first time multiple ECAs have come together to finance a green project of this size.

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Deal Volume

$ 743.36m

Financial Close

30 June 2020

Sources

Submitted by participant(s), Proximo article, Press release, Press release

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