Text Size:
A | A

FPSO Cidade de Ilhabela Consortium Closes On $1.05 Billion Loan Facility

Text Size: A | A
 
August 6, 2012

QGOG Constellation, SBM Offshore N.V. and Mitsubishi Corporation, joint venture partners at the FPSO Cidade de Ilhabela project, announced today that they have secured a loan of USD $1.05 billion to finance the project which is being constructed in Guangzhou, China.

The loan contract, structured as a Limited Recourse Project Finance, will be repaid over a period of 10 years, starting at the first oil date, which is expected to be in September 2014. The contract will benefit from a competitive package of conditions obtained through a group of international ...


Already a subscriber? Log In
Password:
 
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription