Middle East Economic Survey

VOL. LI

No 31

04-Aug-2008

SAUDI ARABIA

SABIC Mulls Refinancing Of Debt For Its $11.6Bn Buyout Of GE Plastics

Saudi Basic Industries Corporation (SABIC), the kingdoms petrochemicals giant, has been discussing with banks the possibility of refinancing the debt it took on last year for its $11.6bn leveraged buyout (LBO) of GE Plastics, MEES understands. The $7bn bank debt was divided into a $1.5bn tranche (term loan A) with a 125 bps margin and a $5.5bn tranche (term loan...