Citi Vietnam on December 5 announced the completion of an ExportCredit Agency-supported financing package for the National PowerTransmission Corporation ("NPT") for the construction of powertransmission projects in the south of Vietnam.
The 245 USD million financing package has two term loan facilities with a tenor of 13 years.
Theterm loan facilities are guaranteed by the Ministry of Finance ofVietnam and insured by the Japanese Export Credit Agency, NipponExport and Investment Insurance (NEXI). Under these facilities, Citi isthe Sole NEXI Coordinator, Agent and Joint Lead Arranger together withSumitomo Mitsui Trust Bank Limited, Singapore Branch ("SMTB"). Theoriginal lenders are Citibank Japan Ltd., SMTB, The Shizuoka Bank, Ltd.,The Tokyo Star Bank, Limited, The Bank of Fukuoka, The Gunma Bank, Ltd.and The Chiba Bank, Ltd., Hong Kong Branch.
The loan,which follows another 200 million USD term loan in 2011, will financethe construction of four power transmission projects: the Duyen Hai – MyTho 500kV transmission line, the Long Phu – Soc Trang 220kVtransmission line, the Long Phu – Can Tho – Tra Noc 220kV transmissionline, and the Can Tho 220kV sub-station. This system will transmitelectricity generated in Long Phu and Duyen Hai power centres toindustrial zones in Soc Trang and Hau Giang provinces, as well as CanTho and HCM City .
"With annual investments rangingfrom 15 to 18 trillion VND in the 2014-2020 period, EVN NPT isproactively diversifying capital sources from ODA, export credit anddomestic trade in order to meet the demand of developing the nationalpower grid system," said NPT Chairman Dang Phan Tuong.
DennisHussey, Managing Director and Citi Country Officer for Vietnam, said,"Over the past 20 years in Vietnam, we have worked on numerousinnovative financing transactions, and this is a perfect example of howour international knowledge and local expertise work together perfectly.-VNA
The 245 USD million financing package has two term loan facilities with a tenor of 13 years.
Theterm loan facilities are guaranteed by the Ministry of Finance ofVietnam and insured by the Japanese Export Credit Agency, NipponExport and Investment Insurance (NEXI). Under these facilities, Citi isthe Sole NEXI Coordinator, Agent and Joint Lead Arranger together withSumitomo Mitsui Trust Bank Limited, Singapore Branch ("SMTB"). Theoriginal lenders are Citibank Japan Ltd., SMTB, The Shizuoka Bank, Ltd.,The Tokyo Star Bank, Limited, The Bank of Fukuoka, The Gunma Bank, Ltd.and The Chiba Bank, Ltd., Hong Kong Branch.
The loan,which follows another 200 million USD term loan in 2011, will financethe construction of four power transmission projects: the Duyen Hai – MyTho 500kV transmission line, the Long Phu – Soc Trang 220kVtransmission line, the Long Phu – Can Tho – Tra Noc 220kV transmissionline, and the Can Tho 220kV sub-station. This system will transmitelectricity generated in Long Phu and Duyen Hai power centres toindustrial zones in Soc Trang and Hau Giang provinces, as well as CanTho and HCM City .
"With annual investments rangingfrom 15 to 18 trillion VND in the 2014-2020 period, EVN NPT isproactively diversifying capital sources from ODA, export credit anddomestic trade in order to meet the demand of developing the nationalpower grid system," said NPT Chairman Dang Phan Tuong.
DennisHussey, Managing Director and Citi Country Officer for Vietnam, said,"Over the past 20 years in Vietnam, we have worked on numerousinnovative financing transactions, and this is a perfect example of howour international knowledge and local expertise work together perfectly.-VNA
