IJGlobal Deals Data

Mostorod Refinery Financing

  • Deal No: 20077

Development Bank Debt (USD 200.00m)

Type:
Debt
Amount:
USD 200.00m

Tranche Roles

Role Sub Role Name % Value
Multilateral Development Bank African Development Bank USD 200.00m

Development Bank Debt (USD 25.00m)

Type:
Debt
Amount:
USD 25.00m

Tranche Roles

Role Sub Role Name % Value
Multilateral Development Bank African Development Bank USD 25.00m

Term Loan (USD 472.50m)

Type:
Debt
Tenor:
7 Years
Amount:
USD 472.50m
Description:
EIB guarantee

Tranche Pricing

Coupon Type Floating Rate
Basis Points LIBOR - 300 bps
Notes: Libor +300, 400
Coupon Type Floating Rate
Basis Points LIBOR - 400 bps

Tranche Roles

Role Sub Role Name % Value
MLA KBC Bank USD 24.88m
International Financial Institution Arab Petroleum Investments Corporation USD 29.32m
MLA Standard Chartered Bank USD 35.00m
Development Bank KfW USD 45.61m
MLA Qatar National Bank USD 100.00m
MLA Ahli United Bank USD 41.16m
MLA Commercial International Bank (Egypt) USD 48.29m
MLA Societe Generale USD 49.15m
MLA HSBC USD 39.56m
MLA Bank of Tokyo-Mitsubishi UFJ USD 43.53m
MLA Credit Agricole Group USD 16.00m

Kexim Direct loan (USD 620.00m)

Type:
Debt
Amount:
USD 620.00m

Tranche Roles

Role Sub Role Name % Value
Public Finance Institution Export Credit Agency Export-Import Bank of Korea USD 620.00m

Development Bank Loan (USD 540.00m)

Type:
Debt
Amount:
USD 540.00m

Tranche Roles

Role Sub Role Name % Value
Development Bank Government Agency/Public Authority Japan Bank for International Cooperation USD 540.00m

Mezzanine Debt (USD 200.00m)

Type:
Debt
Amount:
USD 200.00m

Tranche Roles

Role Sub Role Name % Value
MLA Commercial Bank Mitsui & Co USD 200.00m
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Advisers

Company Name Role Client
Societe Generale Financial Adviser to the consortium
Shearman & Sterling Legal Adviser to sponsors
Allen & Overy Legal Adviser to the lenders
Slaughter and May Legal Adviser to the lenders
Clifford Chance Legal Adviser to the consortium
IHS Technical Adviser
KBC Advanced Technologies Technical Adviser
Baker & McKenzie Legal Adviser
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Deal Timeline

2012
Financial Close Transaction - Financial close for Mostorod Refinery Project
News: Financial close for Mostorod Refinery Project
2011
General Announcement
News: Mostorod sponsors to pay lenders commitment fees
2011
General Announcement
News: Government letter renews focus on Egypt's Mostorod Refinery
2011
General Announcement
News: Egyptian upheaval puts key deals on hold
2010
General Announcement
News: Mostorod resolving final equity to reach FC
2010
General Announcement
News: Africa's largest PF deal signs - full details
2010
General Announcement
News: Mostorod overcomes last minute hurdle
2010
General Announcement
News: ERC nears Mostorod Refinery debt signing
2010
General Announcement
News: IFC invests US$120m in Mostorod sponsor
2010
General Announcement
News: Mostorod nears July signing oversubscribed
2010
General Announcement
News: US$3.5bn Mostorod deal remains on course
2010
Bank Market Approach
News: US$3.5bn Egyptian Refinery issues RFPs
2010
Bank Market Approach
News: Egyptian oil refinery nears financial close
2009
General Announcement
News: Egyptian refinery EIB loan struggles for bank guarantees
2009
Bank Market Approach
News: Egyptian refinery debt fully covered by ECAs
2007
Bank Market Approach
News: SG to appoint pathfinders for US$2.4bn Egypt refinery
2007
General Announcement
News: Citadel to launch US$1.5bn Egyptian refinery debt
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Mostorod Refinery

Project Type:
Greenfield
Project Sub-Type:
New
Capacity:
140,000.00 bd
Current Stage:
Construction
Est. Value:
USD 3,700.00m
Full Details
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Transaction Key Facts

Stage:
Financial close
Financial Close:
14th June 2012
Type:
Primary Financing
SPV:
Egyptian Refining Company
Value:
USD 3,699.18m
Equity:
USD 1,101.68m
Debt:
USD 2,597.50m

Transaction Categories

Sectors:
Oil & Gas
Downstream
Upstream
Regions:
MENA
Egypt