Iraq will seek $2 billion in financing for some of the 40 jetliners it has on order from Boeing Co. as the Middle Eastern country recovering from years of warfare taps U.S. export credit for the first time.
Roy Hill Holdings Pty, controlled by Asia’s richest woman Gina Rinehart, said talks are advanced to obtain A$7 billion ($6.5 billion) in funding for its Australian iron ore project, even as the price of the material this week fell the most in four years.
DLA Piper UK partners Debra Erni and Graham Tyler, who headed the asset finance practice, will join Pillsbury Winthrop Shaw Pittman LLP’s transportation finance team in London at the beginning of May with three associates.
John Leahy, chief operating officer at Airbus SAS, spoke yesterday about the outlook for global aircraft demand. The world’s largest maker of commercial aircraft said airlines will buy 25,000 planes worth $3.1 trillion over the next 20 years, buoyed by Asian sales and increased demand for single-aisle models. The forecast is 3 percent higher than the 24,300-aircraft, 20- year requirement predicted by Toulouse, France-based Airbus in February 2008. Laurent Rouaud, senior vice president of market and product strategy, and Stefan Schaffrath, head of media relations, also spoke at the news conference in London.
Middle Eastern and North African companies planning $740 billion in energy projects will need to tap foreign export credit agencies and local banks as commercial lending to the industry slumps to a nine-year low.
Santos Ltd., the Australian energy company building the $16 billion Gladstone liquefied natural gas project in Queensland state, obtained $1.2 billion in debt facilities backed by three government export credit agencies.
Roy Hill Holdings Pty, Australian billionaire Gina Rinehart’s unit that’s seeking to raise A$7 billion ($7.3 billion) in debt to build an iron ore mine, said it expects to complete funding by the end of the year.