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Wednesday, 13 April 2016

International banks to provide EUR 3.5 bn in power plant financing:

We have financiers for EUR 3.5 bn in new power plants: Deutsche Bank, HSBC, and KfW IPEX-Bank have jointly structured and arranged the Hermes-underwritten financing for the Beni Suef, Borollos, and New Capital combined-cycle plants in Egypt, Deutsche Bank announced in a statement. A 17-bank consortium will raise EUR 3.5 bn for Siemens. The power plant order is the biggest in Siemens’ history, according to the release, and has a total investment cost of EUR 6 bn. Deutsche Bank, HSBC, and KfW IPEX-Bank are acting as coordinating initial mandated lead arrangers and co-bookrunners for the syndication of the Hermes-covered finance, with Deutsche Bank acting as coordinating bookrunner.

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