FINANCING THE CHANNEL TUNNEL
When Gamal Abdul Nasser nationalized the Suez Canal in 1956, Jacques Georges-Picot, chairman of the Cimpagnie Universelle du Canal Maritime de Suez, consoled his fellow board members. “Never mind, we will build the Channel tunnel,’ he told them. Thirty years on his prophecy has come true. Banque Indosuez is one of the five arranging banks for the CTG-France-Manche project and, like the others, committed to raising 200 million.
The largest project finance operation of the 20th century calls for bank credits of about 5 billion, (4.5
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