Société Générale is set to join the $165 million financing of El Paso’s Elba Express natural gas pipeline to bring the total amount of commitments to roughly $200 million, says a project financier familiar with the matter. Mark Leland, cfo in Houston, confirmed that at least one other bank was working to get into the deal but declined to identify the lender. “It’s closed and funding but we’re still open, if you know what I mean,” he says. SG officials did not return calls. The deal is slated to close this week.
May 22, 2009