GDF SUEZ and Industrial and Commercial Bank of China Limited (ICBC) have signed a MoU for Financing Cooperation on a non-exclusive basis. This MoU aims at supporting GDF SUEZ in the financing of its projects throughout the world, in particular in Asia Pacific and in China. It will be deployed across GDF SUEZ Group’s businesses (gas, power, water and waste, energy efficiency services).
Several possible forms of financing cooperation are contemplated in the MoU, including:
- New credit lines made available to GDF SUEZ at the corporate level that would allow to support the Group’s growth opportunities;
- Other forms of credit support such as multi-year guarantees, performance bonds and letters of credit;
- Specific case-by-case project financing;
- Potential creation of Hong-Kong-based vehicle(s) to finance specific projects or portfolio of projects in China in which GDF SUEZ is involved in, assisting GDF SUEZ in best serving its customers in China;
- Potential similar structures for GDF SUEZ projects outside China, wherever ICBC wants to further grow its already important presence and footprint;
- Utilisation of ICBC financial engineering expertise to optimise financing terms and conditions for GDF SUEZ.