On May 25 2011 in Hanoi, Credit Agricole Corporate and Investment Bank (CA CIB), acting as the sole Mandated Lead Arranger and Lender, has signed a long term loan agreement of USD178 million with Dakdrinh Hydropower Joint Stock Company to finance the construction of the 125MW Dakdrinh Hydropower Plant.CA CIB have arranged the long-term financing with a 13-year tenor, which will be insured by Nippon Export & Investment Insurance of Japan under NEXI untied loan insurance program and guaranteed by Vietnam Ministry of Finance. The loan is to finance up to 80% of the investment cost of the Dakdrinh Hydropower Plant.Dakdrinh Hydropower Plant is the biggest hydropower plant in Quang Ngai and Kon Tum provinces. The Plant is classified as one of the critical power plants in the Master Power Plan No. 6 of the Vietnam Government. Upon completion, expected in late 2013, the Plant will generate an average power output of 520.8 Mio KWh per year to contribute to the economic development of the Central of VietnamThe Plant is invested and operated by Dakdrinh Hydropower JSC (“DHC”), a subsidiary of PetroVietnam Power Corporation.
Information on the Mandated Lead ArrangerCrédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) is the Corporate and Investment Banking arm of the Crédit Agricole Group (€ 71.5 Bios of Shareholder’s equity – Group share and € 3.6 Bios of Net Income – Group share in 2010). With more than 13,000 employees in 66 countries, Crédit Agricole CIB provides a full range of financial solutions to Corporates and Financial Institutions throughout 4 major divisions: Corporate & Investment Banking, Equity Brokerage & Derivatives, Fixed Income Markets and Structured Finance.Crédit Agricole CIB most ancient presence in Vietnam is dated 1875. Crédit Agricole CIB now operates with two branches located in Hanoi and Ho Chi Minh City. To date, Crédit Agricole CIB has been actively financing key projects of Vietnam such as Ca Mau-PM3 gas pipeline, Dung Quat Polypropylene Plant, hydropower plants, structured finance for coal projects, financing the purchase of Airbus and ATR, financing the construction of sea ports and other industrial projects.
