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

Navigation

The Need for Marine Spatial Planning

The sea is not empty.   Ports, harbors and waterways have to manage an ever growing volume and mix of recreational activity and heavy commercial activity - at

Bulker Aground in St. Marys River

A 603-foot bulk carrier ran aground in the St. Marys River near De Tour Village, Michigan, early Wednesday.   The motor vessel Mississagi, a Canadian-flagged bulk carrier with a load of stone,

Synergi Plant gets New Dashboard

Synergi Plant version 5.2, the latest DNV GL plant integrity software solution, has now been released. It includes a brand new user interface and several new

 
 
Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.1569 sec (6 req/sec)