Idemitsu-Led Group Closes $5B In Funds For Vietnam Refinery

Law360, New York (June 5, 2013, 1:50 PM EDT) -- Japanese oil refiner Idemitsu Kosan Co. Ltd. and its investment partners, including a subsidiary of Kuwait's national oil company, have closed $5 billion in project financing from a group of private and state-owned banks for their $9 billion refinery project is Vietnam, Idemitsu said Wednesday.

The consortium will receive $1.65 billion in direct loans from the Japan Bank for International Cooperation, Idemitsu said in a statement Monday announcing a final investment decision for the Nghi Son refinery development. A group of private banks will provide $2.3...
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