VOL. XXX
NO. 23
16 MARCH 1987
Financial and Banking News
LOANS AND ISSUES
REDEC Rescheduling Agreed
The Saudi Research and Development Corporation (REDEC) last week reachedagreement with its creditors to reschedule some $340mn in debt over ten years ata spread of 0.5% over Bahrain interbank rates. REDEC suspended principal repayments to its 45 creditor banks in December 1985 andinterest repayments inMarch 1986. The banks were represented during negotiations by a steeringcommittee comprising...
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