Financing Structure for Canal Expansion Program

Wednesday, October 15, 2008

Panamanian President Martín Torrijos announced the final financing structure for the historic Panama Canal Expansion Program.

Five major multilateral agencies from Europe, Asia and offered to finance the Canal expansion project. The Panama Canal Authority, after months of extensive negotiations, has accepted the banks’ offers.

The $2.3 billion financing package will cover a portion of the $5.25 billion total cost of the project. Financing agencies are the European Investment Bank (EIB), Japan Bank for International Cooperation (JBIC), Inter-American Development Bank (IDB), International Finance Corporation (IFC), and Corporación Andina de Fomento (CAF). The negotiated financing structure includes a 20-year amortizing period with a 10-year grace period.

Recently, the ACP received its first prospective investment grade rating. Moody’s Investors Services, gave the ACP an A1 as a government-related issuer, and a prospective A2 investment grade for the possible $2.3 billion financing for the expansion project.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navigation

Panama Canal Officially Opens $5.25Bln Expansion

A 984-foot Chinese container ship was greeted with fireworks and cheers from a crowd that had gathered, when it made an inaugural passage through the newly expanded Panama Canal on Sunday,

The Historical Passage of Cosco Shipping Panama

The Chinese giant Cosco Shipping  has made the inaugural transit on Sunday June 26, 2016  through the expanded Panama Canal expansion project , event appreciated

Traffic Separation Schemes off Western Australia

On 1 December 2016 two new Traffic Separation Schemes (TSS) will come into effect off the south-west coast of Western Australia. Australia’s proposal to establish

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0492 sec (20 req/sec)