Financial and Banking News

LOANS AND ISSUES

SADAF Signs $270mn Loan

The Saudi Petrochemical Company (SADAF) duly signed its $270mn eight-year credit on 14 November. The non-recourse loan which has a two-year grace period and carries a 0.5% spread over Libor, will cover the final 10% of the funding of the largest petrochemical complex in the Kingdom, which is being built as a joint venture with Shell at Jubail. The National Commercial Bank (NCB) of Jiddah was originally mandated to...