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LIBOR Transition: A Step Plan for Businesses
August 6, 2020, Covington Alert
In July 2017, the UK Financial Conduct Authority (FCA) announced the likely discontinuation by the end of 2021 of the London Interbank Offered Rate (LIBOR), the interest rate index used in calculating floating or adjustable rates for many loans, bonds, derivatives and other financial contracts.
Covington Advises Sponsors of the Yanbu 4 Desalination Project in the Kingdom of Saudi Arabia
March 25, 2021
LONDON—Covington advised the sponsors, ENGIE, Mowah, and Nesma, of the Yanbu 4 reverse osmosis seawater desalination project in the Kingdom of Saudi Arabia in relation to project financing, which closed on March 19, 2021. The project will provide water to the two holy cities, Medina and Mecca. Once complete, the project will produce 450,000 m3 / day of potable ...
February 4, 2021
DUBAI–Covington advised on three “Deals of the Year” recognized at the annual Project Finance International (PFI) Awards 2020. The award-winning transactions are: Middle East Water Deal of the Year - Jubail 3A Covington advised ACWA Power Consortium on the $650 million IWP scheme, a 600,000 m³/day reverse osmosis greenfield independent water project Jubail ...
December 21, 2018
LONDON—Covington’s Project Development and Finance practice has been recognized at the PFI Awards 2018 for the team’s work on the Al Ezzel and Sakaka transactions, which won “Middle East and Africa Refinancing Deal of the Year” and “Middle East and Africa Power Deal of the Year” respectively. The $243 million new financing facility for Al Ezzel Power Company, a ...