Financial and Banking News


Eastern Petrochemical Company (Sharq): 

A $45mn loan for Saudi Arabia's Sharq which has been in process for some months was finally completed last week, and will be signed before the end of the month. The seven-year loan is in two branches: $20mn is as a term loan for the first 24 months at 0.375% over Libor, to be converted into a revolver for the remaining five years at 0.5% over Libor. This tranche is provided by Bank of Tokyo,...