Middle East Economic Survey

VOL. XLVIII

No 45

7-November-2005

UAE

IPIC Secures Loan To Finance Borealis Acquisition

Abu Dhabis International Petroleum Investment Company (IPIC) has secured a 590mn loan to finance its Borealis acquisition. The loan has a tenor of eight years, with repayment starting in the sixth month, and the margin is 35bps, MEES understands. It is being provided by mandated lead arrangers National Bank of Abu Dhabi (facility agent), First Gulf Bank (documentation bank), Calyon...