Gmr Energy (Singapore) Pte Ltd Achieves Financial Close
Singapore, 15th July, 2011:
GMR Energy (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure Ltd, is pleased to announce that it has reached financial close on its flagship 800 MW combined cycle project at Jurong Island, Singapore. Six International Banks acted as Mandated Lead Arrangers to the transaction, namely Axis Bank Ltd, CIMB Bank Berhad, KfW IPEX-Bank Gmbh, National Australia Bank Limited, Standard Chartered Bank and WestLB AG. Norton Rose (Asia) LLP and Lee & Lee Advocates & Solicitors acted as legal advisers to the lenders whilst White & Case Pte Ltd and Rajah & Tann LLP provided legal advice to the sponsor. The financing package comprises S$670mn of a term loan facility and a USD 270mn credit and working capital facility with a tenor of 17 years.