Power producer secures Vietnam's largest ever ECA-backed loan

The $470 million 12-year loan obtained by a unit of Petrovietnam will be used to finance the construction of a 750MW combined-cycle power plant.

A subsidiary of Petrovietnam, the state-owned oil and gas group, has secured the equivalent of $470 million through an Export Credit Agency-supported debt financing for the construction of a combined-cycle power plant project in Vietnam.

The deal for PetroVietnam Nhon Trach 2 Power Joint Stock Co is the largest ECA-backed financing ever to be arranged in Vietnam and shows that these types of financings remain a key tool for the funding of long-dated projects in Asia even as liquidity has otherwise generally returned to the commercial bank markets after the financial crisis. Indeed, for large-scale projects, particularly in the emerging markets, banks are still hesitant to lend on a stand-alone basis for terms...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222