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 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navigation

Panama Canal to Celebrate 100 Years

To commemorate its centennial, the Panama Canal will host a series of events August 14-15 in Panama City to highlight the impact of the waterway during the past century.

AIS Data for Emissions Reduction

With emissions reduction firmly on the industry’s agenda, studies show that carrying out ship emission calculations, based on AIS data, can offer significant benefits.

Hyundai Heavy Industries Develops HiCASS

Hyundai Heavy Industries Co., Ltd. (HHI) announced today that it developed Hyundai Intelligent Collision Avoidance Support System (HiCASS) for the first time in

 
 
Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1151 sec (9 req/sec)