Banks agree $1.1 bn Angolan water package

摘要

Banking giant Standard Chartered has announced the signing of S1.1 billion of financing with Angola's Ministry of Finance for the development of the Bita Water Supply Project in the capital Luanda. The package is one of the largest ever privately financed deals for water supply infrastructure in sub-Saharan Africa. The financing consists of two loans. The first is a $910 million syndicated loan supported by a $500 million World Bank guarantee, with Standard Chartered acting as sole advisor, coordinator bank, and mandated lead arranger. Funding is spread among Standard Chartered and the four other banks in the syndicate: BNP Paribas, Credit Agricole, Credit Suisse, and Societe Generale. The financing was also supported by Africa Trade Insurance and the private insurance market.