Global law firm Clifford Chance advised International Power plc on a new three-year unsecured US$450 million (£271 million) Corporate Revolver facility with its core relationship banks.
The new facility will be available for general corporate purposes and replaces the existing US$540 million (£325 million) facility, which expires in October 2004. International Power has renewed this facility one year ahead of expiry in order to provide more certainty to the Company’s medium term capital structure.
Robert Lee (partner) and Rod Cameron (associate) of Clifford Chance advised International Power plc on a new three year unsecured US$450 million Corporate Revolver Facility with its core relationship banks.
International Power’s Chief Financial Officer commented: “We are very pleased with this level of support from our core bank group. Together with our current liquidity, it reaffirms our balance sheet capacity for growth.”
The Lead Arrangers for this facility were ABN AMRO Bank N.V., Credit Lyonnais, ING Bank N.V. and The Royal Bank of Scotland plc.
Robert Elliot (partner) and Tim Ross (associate) of Linklaters acted for The Royal Bank of Scotland plc as Agent.