Mizuho Corporate Bank wins financial contract for Panama expansion
The Panama Canal Authority (ACP) has awarded the financial advisor contract for its expansion project to Japan's Mizuho Corporate Bank, Ltd. ahead of 14 other firms from the United States, Japan, France, England and Spain.
In October's national referendum, Panamanians overwhelmingly voted in favor of the canal's $5.25 billion expansion, which will double the corridor's cargo capacity upon its expected completion in about eight years time.
Under the terms of the contract, Mizuho will review the financial aspects of the ACP's master plan and expansion proposal, providing strategic counsel on financing structures and strategies and creating and implementing an integrated financial model, among other items, ACP said.
'After thorough technical and economical evaluation of the proposals, the contract was awarded to Mizuho Corporate Bank based on the firm’s reputable experience and capabilities. Moreover, the firm was the best fit for requirements and interests of the expansion project,” the ACP said in a statement.
Mizuho Corporate Bank wins financial contract for Panama expansion
