Project Finance: Practical Case Studies

Chapter 15 Casecnan Water & Energy Company, the Philippines Project summary^1 The Casecnan Water & Energy project consis ...

tion and hydroelectric use in the central Luzon area of the Philippines. An underground powerhouse located at the end of the wat ...

kilometres long delivers water from the tunnel and the powerhouse to the reservoir, provid- ing additional water for irrigation ...

Early stages of the project In early 1994 President Fidel Ramos recog- nised the need for an irrigation and hydro- electric proj ...

Environmental impact The project was designed to make the least possible impact on the surrounding environment. The rivers flow ...

Finally, a bond with a 15-year maturity and a 12-year average life was developed for emerg- ing-market investors who already had ...

that it had not relied on the guarantee of Hanbo Steel when it issued its original rating because Hanbo Steel itself was unrated ...

of credit. We believe it is virtually unprecedented that Korea First Bank has failed to comply with customary banking practices ...

ment in CalEnergy’s favour. By that time a fourth draw under the letter of credit had increased the unpaid amount to US$117.5 mi ...

Standard & Poor’s took similar action the same month, affirming its ‘BB+’ rating but revising its outlook for the project fr ...

opment for lenders, although it did not expect that Berkshire Hathaway would inject equity to deleverage MidAmerican. It conside ...

the end of November. Nonetheless, Standard & Poor’s kept its ‘BB+’ rating for the project on CreditWatch with negative impli ...