Financial Close

Financial Close

The time when the documentation has been executed and conditions precedent have been satisfied or waived. Drawdowns are now permissible.

Financial Close

The period of time after an agreement has been entered when all conditions have been fulfilled (or waived) and all documents have been properly filed and executed. After the financial close, drawdowns are allowed.
References in periodicals archive ?
ENPNewswire-August 21, 2019--PGNiG - Financial Close for Calcasieu Pass LNG project statement by the PGNiG S.A.
'Achieving financial close and winning this award is a recognition of several 'firsts' that the project has delivered,' Dr Salim bin Saif al Huthaili, CEO of Duqm Refinery said.
Ashley House said in May that its joint venture Morgan Ashley is working on three extra care scheme on which it is yet to achieve financial close. Although Ashley House expects the scheme to reach financial close, the timing is uncertain and could be in July.
"The IFC team will be the lead transaction advisers working with external consultants (technical and legal) to provide the expertise required to enable KU to engage with the successful bidders, financiers in financial close negotiations and signed PPP agreement amendments if any," the global financier said."The objective of the projects is to provide post-transaction advisory services to KU in negotiating and amending the PPP Agreement if necessary for the student hostels project with the aim of achieving financial close.
The Bahrain Petroleum Company (Bapco) has announced that it has reached financial close on its multi-billion dollar Bapco Modernisation Programme (BMP).
Manama, May 19 (BNA): The Bahrain Petroleum Company (Bapco) announces today that it has reached financial close on its multi-billion dollar Bapco Modernisation Programme (BMP).
MANAMA: The Bahrain Petroleum Company (Bapco) has announced that it has reached financial close on its multi-billion-dollar Bapco Modernisation Programme (BMP).
According to a spokesperson of the provincial government, the Thar Coal and Energy Board (TCEB) has extended the applicability of financial incentive of 20 per cent dollar-based equity Internal Rate of Return (IRR) to all coal mining companies working in the Thar coalfield which could achieve financial close by Dec 31, 2019.
Karachi -- The Thar Coal and Energy Board (TCEB) has extended applicability of financial incentive of 20 percent dollar-based equity Internal Rate of Return (IRR) to all coal mining companies working in Thar Coalfield who can achieve financial close till 31st December, 2019.
'In Australia, we are hoping to get financial close for the first half of our 700-MW solar project, so call it 350 MW.
Eric Francia, president and CEO of AC Energy, said the company hopes to get financial close for around 350 megawatts (MW) of solar project in Australia, 400 to 500 MW of wind farms in Vietnam and over 100 MW of solar in the Philippines.
In this regard, the board agreed to allow a one-year extension in the financial close date of 1,124-MW Kohala hydropower project, considering that it is the largest hydropower project and so far the single largest investment in any independent power producers (IPP) in Pakistan/Azad Jammu and Kashmir (AJK).
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