Deal details
ADNOC Lightning - High-Voltage Direct Current Offshore Power Transmission System - JBIC/KEXIM Direct Loan
Description
Abu Dhabi Offshore Power Transmission Company has closed $3.2 billion financing with export credit agencies and banks for an offshore electricity transmission project. The financing is to build and operate a high-voltage direct current offshore power transmission system linking two offshore production facilities owned by state-controlled oil giant Abu Dhabi National Oil Company (ADNOC) to Abu Dhabi's onshore grid.
Assets involved
Companies involved
- Standard Chartered, Nonghyup Bank, Sumitomo Mitsui Banking Corporation (SMBC), Mizuho, Sumitomo Mitsui Trust Bank (SMTB), BNP Paribas
- Jan De Nul, Samsung C&T
- MUFG, Mott MacDonald, Alderbrook Finance
- Sumitomo Electric Industries, Hitachi Energy, Prysmian Group
- Norton Rose Fulbright, Al Tamimi
- Standard Chartered
- Japan Bank for International Cooperation (JBIC), Export Import Bank of Korea - KEXIM
- KEPCO, EDF (Électricité de France), Abu Dhabi National Oil Company (ADNOC), Abu Dhabi National Energy Company (TAQA), Kyushu Electric Power
- Trowers & Hamlins, Milbank LLP
- Sumitomo Mitsui Banking Corporation (SMBC)
- Sumitomo Mitsui Banking Corporation (SMBC)
- Ashurst
- White & Case
- Mizuho
- BDO Capital
- Standard Chartered
- Sumitomo Mitsui Banking Corporation (SMBC)
- Hitachi Energy
Key information
Abu Dhabi Offshore Transmission Company Limited LLC
3920$m
22-09-2022
Power / Electricity transmission
United Arab Emirates
Project & Infrastructure Finance
Not PPP
Tranche information
Equity bridge loan
720$
PRI Backed commercial loan
720$m
US Dollar - USD
0
3.0 years
-
SOFR
-
| Participant | role | ticket size |
|---|---|---|
| BNP Paribas | Lender | 240$m |
| Sumitomo Mitsui Trust Bank (SMTB) | Lender | 240$m |
| Nonghyup Bank | Lender | 240$m |
JBIC Direct Loan
1,021$
ECA-Direct Loan
1021$m
US Dollar - USD
0
5.5 years
-
SOFR
-
| Participant | role | ticket size |
|---|---|---|
| Japan Bank for International Cooperation (JBIC) | ECA direct lender | 1,021$m |
Term Loan
979$
Term Loan
979$m
US Dollar - USD
0
5.5 years
-
SOFR
-
| Participant | role | ticket size |
|---|---|---|
| Mizuho | Lender | 244$m |
| Sumitomo Mitsui Banking Corporation (SMBC) | Lender | 244$m |
| BNP Paribas | Lender | 244$m |
| Standard Chartered | Lender | 244$m |
KEXIM Direct Loan
1,200$
ECA-Direct Loan
1200$m
US Dollar - USD
0
5.5 years
-
SOFR
-
| Participant | role | ticket size |
|---|---|---|
| Export Import Bank of Korea - KEXIM | ECA direct lender | 1,200$m |