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Regulation

Staff Reporter

, Vietnam

Published:

12 years ago

Citi closes Vietnam ECA power deal

Citi has signed a Nexi-backed financing for transmission projects in Vietnam with the Development Bank of Japan and Sumitomo Trust and Banking Corporation.

Citi Vietnam today announced the completion of the export credit agency-supported debt financing arrangement for the National Power Transmission Corporation (NPT) in Vietnam. The financing package has a total value of $200 million and tenor of 13 years, and will be used for power transmission projects.

The financing is guaranteed by Vietnam’s Ministry of Finance and insured by the Japanese Export Credit Agency Nippon Export and Investment Insurance (Nexi) under its Overseas Untied Loan Insurance Programme.

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