Tractebel seals € 475 million to refinance building of Turkish power plant

Tractebel, the Belgian energy business, will sign a € 475 million 13-year project loan with a seven-strong bank club to refinance the construction costs of a Turkish power plant it is building. ABN Amro, BNP Paribas, Credit Agricole Indosuez, Fortis Capital, ING, Société Générale and Westdeutsche Landesbank are jointly financing the 13-year non-recourse loan and do not plan to syndicate the facility after closure. Financiers involved in the transaction say the deal finances a 763 MW CCGT plant on the outskirts of Ankara, but declined further comment. Tractebel acquired the Ankara project last September from joint developers International Power and two Turkish engineering and construction outfits, Bayindir and Mimag. Once commissioned the plant will enter a 15-year off-take agreement with Turkish utility TEAS and a gas-supply contract with Turkish gas outfit BOTAS.
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BENOEMINGEN
Ellen Theeuwes Ellen Theeuwes
CEO INDUSS
Walter Bogaerts
BELGOPROCESS
STIJGERS & DALERS BEL20