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Thu 22 Dec 2016 12:19 PM

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Qatar's Nebras Power closes $430m revolving credit facility

Company says facility will allow it to build investment portfolio over five years

Qatar's Nebras Power closes $430m revolving credit facility

Qatar-based Nebras Power has closed a $430 million four-year revolving credit facility, it announced on Wednesday.

The new financing will help the utilities firm to deliver against its long-term strategy and business plan, the company said in statement published by Qatar News Agency.

Nebras Power's board chairman Fahad Al Mohannadi said the company aims at building an investment portfolio of more than 5 gigawatt (GW) net within the next five years.

Japan’s Sumitomo Mitsui Banking Corporation was mandated as sole bookrunner and lead arranger on the facility.

HSBC was joint coordinator and lead arranger, while Mizuho Bank was the lead arranger, the staeament added.

Nebras Power is a joint venture between Qatar Electricity and Water Company, Qatar Holding and Qatar Petroleum International, QNA said.

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