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StanChart and Mizuho go 'uncovered' for Indonesia power project
05 August 2008
Deal marks the first time in more than 10 years that banks have provided uncovered financing to a private power project in Indonesia.
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Standard Chartered Bank and Mizuho Corporate Bank have successfully closed syndication of a $104 million financing for Energy World Corporation (EWC) Limited's Sengkang power and gasfield project in South Sulawesi, Indonesia.
The financing involves the transfer of existing project finance loans, totalling $60 million, for the 135MW Sengkang IPP and gasfield project from Standard Chartered, and $44 million of new funding for a 60MW expansion of the project.
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