TNAG-2252-FCO40-3236-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-fina-1991 — Page 103

J. Henry Schroder Wagg & Co. Limited

Castle Peak Power Stations, (1978-1982)

Schroders arranged commercial loans totalling US$2,500 million for China Light & Power Company Ltd and Exxon Energy Ltd joint venture companies to fund the construction of the Castle Peak Power Stations in Hong Kong. These loans were arranged on the basis of a non- recourse security package developed by Schroders. The finance package for the Castle Peak "B" Station (the equivalent of £918 million) was at the time the largest project financing ever arranged in the City of London and the export credit element of this package, amounting to the equivalent of £755 million, is the largest UK export credit package ever arranged. In excess of £250 million of additional financing has subsequently been made available to the group by Schroders for further projects.

INDONESIA

Perumtel STD II BOT Scheme (1988)

Schroders advised its client, a major international telecommunications equipment supplier on the prospects for financing the Perumtel STD II scheme under a privately financed BOT scheme. The work included construction of a financial model, and advice on the potential contractual requirements to underpin the scheme. Schroders Singapore provided advice on the study from the regional perspective.

Scattered Diesels, Indonesia (1989)

Schroders acted as financial adviser to GEC Diesels Limited on its successful bid to PLN (the state electricity authority) for the supply of six diesel generatings sets. This was the largest contract won by a GEC company in Indonesia. A US$12m soft loan was negotiated by Schroders in support of the contract under the UK Government's Development Loan Programme for Indonesia, and was the first such loan to include financing for local costs.

Department of Information (1990-1991)

In 1990 Marconi Communications (International) Limited was awarded a £29m contract to supply the Ministry of Information with shortwave broadcasting transmissions for the home radio service.

Schroders negotiated a £29m 25 year soft loan (under the Second UK Concessional Loan Arrangement) to support this project. The loan was signed in June 1991 witht he Ministry of Information and included an element of finance for local costs.