Operis was appointed as model auditors by Qatar Electricity and Water Company, lead arrangers Bank of Tokyo Mitsubishi UFJ, and financial advisers, HSBC Investment Bank, to provide financial due diligence advice to the funders of a new Power and Water Desalination plant in Qatar.
The Ras Abu Fontas B2 IWPP is an expansion of existing power and water plants on-site, requiring over US $620m (QR 1300m) of equity and senior debt, the latter structured in three tranches, including a standby facility. Structuring details are confidential.
The financial close was on 12 June, with the first drawdown planned for the end June 2006.
