| |
Host Country: Pakistan |
Industry/Sector: Equipment |
|
|
| |
|
|
| |
Sponsor: China Electric Power Equipment and Technology (CET) which is a subsidiary of State Grid Corporation, China |
|
| |
|
|
| |
Borrower: Pak Matiari-Lahore Transmission Company (Private) Limited |
|
| |
|
|
| |
Total Investment: USD 1.66 bln |
Debt Amount: USD 1.326 bln |
Financing Terms: N/A |
|
| |
|
|
| |
Purpose of Financing: |
|
| |
To build an 878 km power transmission line from Matiari, Sindh (South of Pakistan) to Nankana Sahib, Lahore (Northern Punjab). |
|
| |
Guarantee Structure: |
|
| |
Security Structure Typical for Project Finance Transactions of such nature |
|
| |
Participating Banks and Roles: |
|
| |
BRBR Members
Habib Bank Limited: Financial Advisor
China Development Bank: Sole Lender
Industrial and Commercial Bank of China: Security Trustee
Non-BRBR Members
N/A |
|
| |
Overview and Highlight of Project: |
|
| |
First of its kind project where the transmission line will be built on Build, Own, Operate and Transfer (“BOOT”) basis based on an Independent Power Plant (“IPP”) structure. The transmission line will be 600 kilovolt High Voltage Direct Current Line and will help around 4,000 MW of generated electricity from new coal power plants at Port Qasim, Hub and Thar Coal power projects to Northern Parts of Pakistan. Once completed, this transmission line will become the backbone of Pakistan’s transmission network. The Sponsor of the project; China Electric Power Equipment and Technology (CET) which is a subsidiary of State Grid Corporation, China (currently stands #2 in the Fortune Global 500 list). HBL’s rich experience and in-depth knowledge of financial advisory and structuring of complex transaction of such natures of the power sector has led to the successful finalization of first of its kind concession agreements (Implementation Agreement and Transmission Services Agreement), tariff structure and financing agreements for this transmission line. Total cost for the project is around USD 1.66 Billion with a debt to equity ratio of 80% Debt and 20% Equity. Financing Documents for the transaction were signed in 4Q 2018.
Click to learn more |
|
| |
Awards or Public Evaluation: |
|
| |
N/A |
|
| |
Other Information: |
|
| |
N/A |
|