Middle East Economic Survey

VOL. L

No 24

11-June-2007

SAUDI ARABIA

SABIC Mulls Bond/Bank Debt To Fund GE Plastics Acquisition

Saudi Basic Industries Corps (SABIC) $11.8bn purchase of General Electrics (GE) plastics division will be funded through a 75:25 debt/equity mix, with the $8.85bn debt portion expected to include both bank loans and bonds, MEES learns. Acquisition underwriters are working on the finance package for the transaction, which is expected to close at the end of the third quarter....