Mubasher: Nebras Power, a subsidiary which is 60% owned by Qatar Electricity and Water Co (QEWC), has successfully closed $430 million (QAR 1.57 billion) worth a four-year revolving credit facility.
“This transaction represents Nebras Power’s debut on the financial markets,” the company said in a bourse statement issued on Wednesday.
Sumitomo Mitsui Banking Corporation was mandated as the sole bookrunner and mandated lead arranger of the loan. The corporation was joined in this credit facility deal by joint coordinator and mandated lead arranger HSBC, and by mandated lead arranger Mizuho Bank.
“Nebras aims at building an investment portfolio of more than 5 GW net by the next five years and plays a key role under the State of Qatar’s diversification strategy,” chairman Fahad Al-Mohannadi said according to the statement.
