$2.2bn refinancing for ADWEA
Authority in talks with HSBC over refinance and bond issue
HSBC has been selected to advise the Abu Dhabi Water and Electricity Authority on the $2.2bn refinancing plans of the Shuweihat 2 loan. According to a Reuters report, the authority also plans to issue a bond, the pitching of which is ongoing. ADWEA will meet with a series of banks in the next two weeks to discuss the refinancing, which will be a first for a Gulf Arab power project.
According to the Reuters report, two or three banks are likely to be appointed, with the offering probably coming to market next year, and an announcement will be made in October.