Leads round up GE, YPF syndication
Citi, Credit Suisse and EDC negotiate a juicy spread on the roughly $220m five-year loan, sources have saiud
Citi, Credit Suisse and Export Development Canada expect to
wrap up the syndication process for a roughly $220m loan to GE
and YPF before the end of the month.
GE, through its energy investing unit GE Energy Financial
Services, and YPF Energia Electrica, a wholly owned subsidiary
of the Argentine energy company will use proceeds for two
jointly-owned thermal power facilities in Argentina –
the 267 MW Tucuman and 107 MW Loma Campana II projects.
GE is the EPC contractor on both facilities. Both are more
than halfway through construction, according to a joint
statement from YPF and GE.
The companies said in June last year that they will invest
$170m to build the plant in
Tucuman and in September they said they would spend $100m to
build the Loma Campana II plant in Neuquen. The Tucuman plant
is scheduled to start production in Q1 next year, while Loma
Campana II is slated to begin operations in Q4 this year.
LatinFinance reported in March that the trio
of lenders had
started the syndication process for the five-year
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