Middle East Economic Survey

VOL. L

No 38

17-September-2007

SAUDI ARABIA

SABIC Posts Strong Results For Syndication Of GE Plastics Debt, Despite Market Turbulence

Saudi Basic Industries Corporation (SABIC) posted strong results for the syndication of $8.5bn worth of debt for its $11.6bn GE Plastics buyout, despite the global market turbulence triggered by the US subprime mortgage crisis. The debt for the transaction, underwritten by bookrunners Citibank, ABN Amro, HSBC, GE Capital and JP Morgan...