Nov 09 2009 |
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Lovells tips Lafarge on Syrian project
International law firm Lovells has advised a subsidiary of Lafarge on the project financing related to a $682 million (Dh2.5bn) cement plant in northern Syria.This is believed to be the first project financing to have closed in the country.
The project finance loans amount to $341m and have been provided by an international syndicate of lenders including EIB , Proparco, EKF and Bank Audi . The funding was provided to one of Lafarge's subsidiaries, Lafarge Cement Syria , enabling the refinancing of a bridge facility and the completion of the project's construction phase.
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