Bin Qasim 3 CCGT

Bin Qasim 3 CCGT - Euler Hermes/Sinosure Covered Loan

Borrower (s)
Bin Qasim 3 CCGT
Industry
Power/Gas-fired combined cycle
Area of finance
Project & Infrastructure Finance
Region
Asia
Countries
Pakistan

Deal Overview

Euler Hermes is covering a loan for K-Electric Limited, a company based in Pakistan. Proceeds will be used for construction of the 900MW Bin Qasim Power Station, located in Karachi. - This is the largest ECA supported corporate financing in Pakistan.- Complex financing with 2 tranches (Euler...

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Euler Hermes is covering a loan for K-Electric Limited, a company based in Pakistan. Proceeds will be used for construction of the 900MW Bin Qasim Power Station, located in Karachi. 

- This is the largest ECA supported corporate financing in Pakistan.

- Complex financing with 2 tranches (Euler Hermes and Sinosure support) and 7 different lenders (from 4 different jurisdictions)

- Well-structured credit structure In addition to the ECA support, the financing is structure on the basis of secured collections from consumers. 

- Thorough E&S engagement with Exporters and Borrower to ensure compliance with IFC Performance Standards and Equator Principles.

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Deal Volume
$ 414.4m
Financial Close
13 September 2021
Sources
Submitted by participant(s), TXF article

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Tranches


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Projects

Bin Qasim 3 CCGT

Brownfield
Gas-fired combined cycle
Asia
Pakistan
$ 650m