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Tuesday, 02 June 2009 11:44    Print
First Gas wins ‘Deal of the Year’ plum
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FIRST Gas Power Corporation won the 2008 “Asia Pacific Refinancing Deal of the Year” award from ProjectFinance
magazine.

First Gas earned the award, which was announced in the April 2009 issue of ProjectFinance, for its successful completion last year of a US$544-million refinancing agreement with nine large foreign banks. ProjectFinance, an authoritative business magazine of Euromoney Institutional Investors, one of Europe’s largest financial magazine publishers, conducts the annual awarding ceremony to recognize companies that show innovation and outstanding achievement in the global finance market.

According to ProjectFinance, the First Gas deal was a “major achievement” because it was finalized “at a time when lack of liquidity, a spike in Libor rates and unwillingness to lend long term had frozen the debt market.”

(Joel Gaborni).

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