NO. 36


Financial and Banking News

Regional Banking

Saudi Arabia Signs and Draws Down $2.5bn Loan from Local Banks

The Saudi Government has drawn down the $2.5bn loan provided by the Kingdom'scommercial banks. Pricing on the deal has not been revealed, but banking sourcessuggest that it was closer to the government's asking price of 20bp over Liborwith fees of 5bp than to the banks' request for 30bp with 10bp in fees, or even3/8% over Libor with 1/8% for fees. The loan was...