Middle East Economic Survey


No 47


Margins On Equate Refinancing/Bridge Loan Prove Too Slim For Local Banks

The Equate Petrochemical Companys $600mn refinancing and bridge loan package signed last week proved popular with international and regional banks and was over two-and-a-half times oversubscribed. However, as a result of the relatively slim margins, all of the local banks participating in the companys $900mn refinancing in 2001 pulled out this time around, MEES...