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 Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navigation

DPE is New Majority Shareholder in INTERSCHALT

Deutsche Private Equity GmbH (DPE) is set to become the new majority shareholder in INTERSCHALT maritime systems AG, the maritime software and services provider

Brand New Ro-Ro Ran Aground in Norway

Ro-ro cargo vessel Kvitbjørn ran aground off Ulsteinvik port, Norway, in the afternoon June 28, while approaching the port.    The vessel, owned by Norway-based Nor Lines,

Chinese Submarine Docked in Karachi ?

The intervention of China in the Arabian Sea is increasing with each passing day. China's deadliest attack submarine crept past Indian waters and docked in Karachi.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Shipbuilding / Vessel Construction Winch
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: 0.0761 sec (13 req/sec)