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Apollo to pump £4.5 billion into UK nuclear project in major private loan deal
U.S. asset management giant Apollo is set to provide a £4.5 billion ($6 billion) loan to plug a shortfall facing U.K. nuclear project Hinkley Point. The deal was first reported by the Financial Times on Friday and supported by two sources speaking to CNBC on condition of anonymity because of the sensitivity of the matter. Construction of the Hinkley Point C plant, the first nuclear power station to be built in Britain in decades, has been delayed multiple times and swelled in budget. Apollo will provide an investment-grade, unsecured debt financing package for the project at an interest rate below 7%, a source said. ... (full story)
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