Nebras Power Concludes $430-million Revolving Credit Facility

Doha, Nebras Power has successfully closed a $430 million four-year revolving credit facility in its debut on the financial markets, the company said Wednesday in a press release. Sumitomo Mitsui Banking Corporation (SMBC) was mandated as sole bookrunn…

Doha, Nebras Power has successfully closed a $430 million four-year revolving credit facility in its debut on the financial markets, the company said Wednesday in a press release.

Sumitomo Mitsui Banking Corporation (SMBC) was mandated as sole bookrunner and mandated lead arranger on the facility. SMBC was joined in this relationship-defining facility by joint coordinator and mandated lead arranger HSBC, and by mandated lead arranger Mizuho Bank.

The strength of Nebras Power's relationships with key financial institutions contributed to the success of this transaction, the company said, adding that the facility enhances its capital structure and provides financial flexibility enabling it to effectively deliver against its long term strategy and business plan. The competitive pricing achieved for this facility reflects the financial markets' positive view of Nebras Power's credit quality.

"We are delighted to announce the completion of this financing, which is a key milestone in the company's evolution," Nebras Power Board Chairman Fahad Al Mohannadi said. "Nebras operates very closely with its shareholders and enjoys their full support as well as the support of the Board of Directors. Nebras aims at building an investment portfolio of more than 5 GW net by the next five years and plays a key role under the State of Qatar's diversification strategy." Chief Executive Officer Khalid Jolo added that "strategic alignment with our core relationship banks is key to our success," noting that "a solid credit history will underpin our operations moving forward." Chief Financial Officer Luca Sutera noted that "the competitive terms achieved on this Facility results from the high credit quality of Nebras Power, recognizing our sound investment approach and prudent capital structuring strategy." Established in 2014, Nebras Power is an international power company with a mandate to invest in the conventional and renewable energy, water and utilities sectors globally, outside of Qatar. It's a joint venture of three Qatar Electricity and Water Company, Qatar Holding and Qatar Petroleum International.

Source: Qatar News Agency