Project: Tri Energy
Date: July 1998
Amount: $449 million
Arrangers: Bank of Tokyo Mitsubishi, Bayerische Landesbank, Credit Suisse First Boston, DKB Asia, Fuji Bank, Sanwa Bank, Sumitomo Bank, Citibank, NationsBank
Tri Energy, a project to build a gas-powered electricity plant in Thailand, came close to being the worst project financing of 1997. The deal, as originally agreed with the Thai authorities, would have involved raising funds in dollars to build the plant and receiving payments from the Electricity Generating Authority of Thailand (Egat) in Thai baht.
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