ANZ Investment Bank Awarded Hydro Mandate In Brazil.LONDON--(BUSINESS WIRE)--Oct. 31, 1997--ANZ Investment Bank has won the financial advisory mandate for the 125MW Dona Francisca hydropower project in the State of Rio Grande do Sul Rio Grande do Sul (rē`  grän`dĭ th s in Brazil. The plant, which is being developed by a consortium of state utilities and several Brazilian firms, is being built to provide a more reliable source of power that is cheaper than the current power generated by the federal owned utilities. Total costs for the initiative are estimated at US$150 million. The power will be sold to each of the partners in a proportion equal to their ownership interest in the plant. A bridge loan is expected to be arranged for construction scheduled to begin in January 1998 and a project finance takeout package is targeted for around the third quarter of 1998. Likely financing sources include the Brazilian Development Bank, BNDES BNDES Banco Nacional de Desenvolvimento Econômico e Social (Brazilian Development Bank) BNDES Banco Nacional de Desenvolvimento Econômico e Social (Brasil) , the Inter-American Development Bank Inter-American Development Bank (IDB) international organization founded in 1959 by 20 governments in North and South America to finance economic and social development in the Western Hemisphere. and PRI PRI: see Institutional Revolutionary party. (Primary Rate Interface) An ISDN service that provides 23 64 Kbps B (Bearer) channels and one 64 Kbps D (Data) channel (23B+D), which is equivalent to the 24 channels of a T1 line. covered commercial bank debt. The public sector developers are Copel, CEEE CEEE Conference on Environmental Education in Europe CEEE Co-Operation for Environmental Education in Europe and Celesc while the private sector developers include the Gerdau Group, the Votorantim Group, Camargo Correa and Inepar. Paul Clifford, Director Global Project Finance, ANZ ANZ Australia and New Zealand ANZ Australia and New Zealand Banking Group Limited ANZ Air New Zealand (NZ national airline) Investment Bank, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , said: "This is one of several high profile projects ANZ Investment Bank has been awarded recently in Brazil. This is being developed by an established and extremely successful utility business group, which has a strong and demonstrated track record." Notes to Editors: ANZ Investment Bank is the investment banking arm of Australia New Zealand Banking Group Limited - one of the leading international banking groups, with a network that crosses 43 countries; assets over US$100 billion; a market capitalization of US$12 billion. CONTACT: ANZ Investment Bank Paul Clifford Director Global Project Finance 212/801-9713 Stephen Crew Co-Head Global Project Finance 44-171-378-2721 -OR- Walton-Yemma Communications Andrew Yemma, 212/661-1620 |
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