Middle East Economic Survey
VOL. XLVIII
No 47
21-November-2005
SAUDI ARABIA
Rabigh Financing Pushes Gulf Bank Margins Down To New Lows
The financing of Saudi Arabias Rabigh refining/petrochemicals project has pushed bank margins in the Gulf down to new lows, attracting cheaper funding not only than this years Qatari and Omani petrochemical projects, but also than the recent LNG financings. As the bank group for the $1.5bn commercial loan took shape last week, it emerged that pre-completion margins...
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