VOL. XXX

NO. 26

6-April-1987

SAUDI ARABIA

$1.5bn Bridging Loan Envisaged to Help Finance Tornado Aircraft Deal

MEES understands that with the backing of Saudi Arabia, British Aerospace isarranging for a major bridging loan of around $1.5bn to offset behind schedulepayments by Saudi Arabia for the Tornado aircraft deal, which is being financedby deliveries of Saudi oil. The payment shortfall is a result of lower thananticipated oil prices as well as some slowdown in oil Siftings during the first...