Middle East Economic Survey

VOL. LIII

No 2

11-Jan-2010

SAUDI ARABIA

SABIC To Issue First Private Bond Placement

State petrochemical company Saudi Basic Industries Corporation (SABIC) plans to issue its first private bond placement, to raise SR10bn ($2.67bn), as it seeks funding for expansion plans. The firm said on 30 December that it had signed an agreement with the Public Investment Fund (PIF), the investment arm of the Saudi Ministry of Finance and 70% stakeholder in SABIC, to launch several...