WestLB Readies Loan for ICA Hydro Project

WestLB is assembling a group of MLAs to provide some $1bn in construction financing for Empresas ICA’s 750MW hydroelectric project in Mexico’s Nayarit and Jalisco states. The Comisión Federal de Electricidad announced last month that ICA submitted the lowest bid, and is expected to confirm the award as soon as this week, following a technical review. HSBC, NordLB, Banco Santander, BBVA and Citi have been invited to join the 4.5-year loan.