National Grid North America Inc.

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

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...

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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 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

All Dealmakers

Luca Lunari

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Karine Schaeffer

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Filippo  Tassoni

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Tranches


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Projects

Viking Interconnector Denmark-UK

Greenfield
Electricity transmission
United Kingdom
$ 2.25bn