Press Releases
30/07/2001
International Power Completes Refinancing of Power Plant in Thailand
(London 27 July 2001) International Power announced today that it has completed a US$ 45.1 million loan package to re-finance it’s wholly owned subsidiary, Thai National Power, for costs associated with construction of a 110 MW gas fired cogeneration plant in Rayong Province, Thailand. The plant went into service in October 2000 and has achieved a technical availability of over 99% since commissioning.
The re-financing comprises a US$ 19.6 million floating rate loan and a 1,165 mbaht (US$ 25.5 million) fixed rate loan. In addition there is a working capital and guarantee facility of 226 mbaht (US$ 5 million).
The financing has been arranged through the Industrial Finance Corporation of Thailand (IFCT) supported by Bank of Ayudhya. The loans will be used to repay funds provided by International Power that were used to build the plant.
“Following the closing last month of the US$ 1.375 billion refinancing of our US merchant fleet, this refinancing is another key step to strengthen our balance sheet and free-up funds to support our growth,” said Peter Giller, International Power’s Chief Executive Officer.
For further information please contact:
| Media Contact: (Europe) |
Edward Orlebar or Morgan Bone (Finsbury) +44 (0)20-7251-3801 |
| Investor contact: (Europe) |
Grant Jones +44 (0)20-7320-8619 |
| Media & Investor contact: (United States) |
Paul Parshley +1 508-922-3124 |
| Thai National Power contact: (Thailand) |
David Leich + 66-388-91324 |
Notes to editors
International Power is one of the world’s leading independent electric generating companies with over 8,850 MW (net) installed capacity in operation, 2,650 MW (net) under construction and approximately 8,000 MW (net) in advanced development. Among the countries where International Power has operating facilities are Australia, the United States, the United Kingdom, the Czech Republic, Portugal, Turkey, Malaysia, Pakistan, and Thailand. International Power was created from the demerger of National Power, and its shares began trading independently on the London Stock Exchange and as ADRs on the New York Stock Exchange on 2 October 2000. The ticker symbol on both stock exchanges is “IPR”.
