BNP Paribas has been awarded Bank of the year by Global Water Intelligence which is the leading source of market information for the international water industry.
BNP Paribas has been nominated bank of the year by an electoral college including GWI’s editorial team and 100 senior industry figures. The other banks competiting were HSBC and European Bank for Reconstruction and Development (EBRD).
BNP Paribas acted as the global coordinator and agent for the Sohar IWPP signed on 21st November 2004, and acted as book runner, documentation, modelling, technical and insurance bank.
These roles reinforce the bank’s position in Omanand in the region as a leading project finance arranger and advisor. Aggregate project costs will be funded by a combination of an equity bridge loan and a term facility . Maturity of the term facility is 17½ years.
The equity bridge loan and the term facility comprise a 2% standby component, available to be drawn to fund cost overruns and/or revenue shortfalls.
BNP Paribas created many structures which were felt to merit their recognition as leaders in their field.