Escal UGS, one of the investors in the Project Castor, confirmed last Monday that all amounts from the watercraft capital bond were paid in full. The issuer was granted €1.35bn in compensation after the project, a gas storage facility off the coast of Spain, was shut following the detection of seismic activity last October. There was some uncertainty as to whether the issuer would be compensated, given that the documents said the project had to be operational, but it was compensated by Spanish energy regulator Enagas on November 11. The deal was the first of the European Union's Project 2020 scheme for funding essential infrastructure. The EIB was heavily involved in the issue, with a €500m exposure as it bought €300m of the €1.4bn deal and also provided a €200m liquidity facility.
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