Long Term O&M (LTOM) 1, 2, 5, 6 & 4

Saudi Arabia

MayCap acted as financial advisor to AWPT in its bid for the Long Term O&M (LTOM) Contracts 1, 2, 5, 6 & 4 for several Sewage Treatment Plants packages in the Kingdom.

The LTOM packages consisted of potential rehabilitation, upgrades, financing, procurement, implementation, operation and maintenance of several existing and new sewage treatment plants with treatment capacity exceeding 1 million m3/day.

Abhay Ketkar supported the following activities:

  • Reviewed the Request for Proposals (the RFP) package received from the procurer
  • Developed and maintained assumption books, financial models along with key sensitivities, calculated relevant ratios (relating to equity returns)
  • Advised and assisted the sponsors on all preparatory legal workstreams to cover any bankability issues and risk allocations
  • Advised on the level and forms of sponsors support to the Project financing, including exploration of non-recourse debt financing and share-holders loan;
  • Explored options and strategies for the bid, financing structure, tariffs and terms and conditions for discussion with the Sponsors within the material limits of the timetable.
  • Closely worked with senior leadership in order to support AWPT in submitting the best bids possible.

The sponsors successfully won the bids for LTOM 5 and 6. Currently we are coordinating the documentation process with various counterparties to manage, accelerate and achieve a smooth financial close.

For further information, contact Abhay Ketkar at abhay.ketkar@maycapadvisors.com.

Transaction Size

Confidential


Purpose

Development of business plan to underpin limited recourse project financing