July 15, 2008
In a July 9 Daily Brief entitled “Peru LNG Closes Project B Loan,” a change
In a July 9 Daily Brief entitled “Peru LNG Closes Project B Loan,” a change to pricing of a $400m syndicated B loan was incorrectly stated. A change to 100bp from 65bp was made to the fees on the facility, not the margin, as was originally suggested. The margin remains Libor plus 75bp for the entire 3.5-year construction period. In the post completion period, the facility steps up to 100bp in years 1-3, to 112.5bp over Libor in years 4-6, to 125bp in years 7-9 to 137.5bp in years 10-12.