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TAP Holds Bank Presentation

Source: www.gulfoilandgas.com 12/18/2015, Location: Asia

The representatives of over 20 leading project finance banks attended an introductory meeting organised by the Trans Adriatic Pipeline AG (TAP) in London. TAP is planning to raise limited recourse finance from multilateral agencies, export credit agencies and commercial banks in 2016.

Senior TAP management, together with the company’s shareholders’ representatives, and TAP’s financial and legal advisers, Société Générale and Allen & Overy, emphasised the robust project rationale, provided an update on recent progress and introduced the project financing schedule.

Ian Bradshaw, Managing Director at TAP, said: “Energy projects such as TAP remain reliable, long-term commercial investments and I am very pleased with the level of interest shown in supporting the TAP project. A highly strategic energy infrastructure for the European Union, TAP is recognised as a Project of Common Interest (PCI) and endorsed by the governments of our host countries: Greece, Albania and Italy.”

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