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ABN AMRO structures a USD 57 million term loan facility for the Fujairah Wastewater Treatment Facility

Demonstrating its expertise in structuring large, complex deals, ABN AMRO today announced the structuring of a USD 57 million term loan facility for Tanqia FZC, which will part finance the USD 148 million Wastewater Treatment System for the City of Fujairah and its environs.

  • United Arab Emirates: Wednesday, June 15 - 2005 at 10:09
  • PRESS RELEASE


Duncan Macnab, partner from Allen & Overy, Tanqia's lawyers, Azhar Dogar, Vice President Credit Portfolio Management ABN AMRO, Tanveer Islam, Head Credit Portfolio Management ABN AMRO, Sameer Joshi, Senior Relationship Banker,  Alok Gupta, Vice President Head Local Client, Jan Willem van den Bosch, Country Executive ABN AMRO and Chris Potsides - Group Finance Director, Tanqia FZC.
Duncan Macnab, partner from Allen & Overy, Tanqia's lawyers, Azhar Dogar, Vice President Credit Portfolio Management ABN AMRO, Tanveer Islam, Head Credit Portfolio Management ABN AMRO, Sameer Joshi, Senior Relationship Banker, Alok Gupta, Vice President Head Local Client, Jan Willem van den Bosch, Country Executive ABN AMRO and Chris Potsides - Group Finance Director, Tanqia FZC.


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The loan is supported by Euler Hermes, the German Export Credit Agency. Construction will be performed and equipment supplied by a consortium of Bilfinger Berger AG and Passavant-Roediger Anlagenbau GmbH.

Jan Willem van den Bosch, Country Executive, ABN AMRO UAE said: 'The deal was structured in a timely manner and competitively priced. ABN AMRO worked closely with Tanqia at every stage to advise them on the structure of the facility, negotiate with Hermes and put together essential documentation for disbursal of the loan.'

The availability of support by Export Credit Agencies enables clients to achieve longer tenors of debt at competitive pricing for the acquisition of capital assets such as plant & machinery, ships, aircraft etc.

'With the large number of such projects in this region and the growing appetite of Export Credit Agencies for the Middle East, ABN AMRO sees significant opportunities for structuring similar transactions in the future,' added van den Bosch.




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Notes and media contacts

ABN AMRO
Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 742.9 bln (as at 31 March 2005). It has over 3,000 branches in more than 60 countries and territories, and has a staff of about 97,000 full-time equivalents worldwide. ABN AMRO is listed on the Euronext and New York stock exchanges.

ABN AMRO operates through three Strategic Business Units, each responsible for managing a distinct client segment. Wholesale Clients provides integrated corporate and investment banking services to corporate, institutional and public sector clients worldwide. Consumer & Commercial Clients focuses on retail and SME clients in three home markets - the Netherlands, the US Midwest and Brazil and in a number of selected growth markets. Private Clients & Asset Management provides private banking services to wealthy clients and investment products to financial intermediaries and institutional clients.

ABN AMRO's Wholesale Clients Strategic Business Unit provides integrated corporate and investment banking solutions to corporate, institutional and public sector clients in about 50 countries. WCS is structured in three Business Units (BUs) - Global Markets, Global Clients and WCS Services. Global Markets comprises of Fixed Income, Equities and Commercial Banking Services. Global Clients comprises advisory specialists serving Corporate clients and Financial Institutions and Public Sector (FIPS) clients, as well as the Corporate Finance business and Origination specialists from Fixed Income and Equity Capital Markets. WCS Services provides back office and support services in Legal and Compliance, Strategic Decision Support, Communication, Information Technology, Human Resources, Finance, Operations, and the Information Resources Centre.
Christine H. Andersen Posted by Christine H. Andersen, Assistant News Editor
Wednesday, June 15 - 2005 at 10:09 UAE local time (GMT+4)

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