VOL. XLV

No 36

9-September-2002

SAUDI ARABIA

National Shipping Company Signs$264Mn Loans For VLCCs

The National Shipping Company of Saudi Arabia (NSCSA) signed anagreement on 3 September to receive $264mn in loans, comprising a $164mnsyndicated loan lead arranged by Bahrainç—´ Gulf Investment Bank (GIB) and Saudi American Bank(SAMBA) and $100mn from Saudi Arabiaç—´ Public Investment Fund, banking sources told MEES. The loans will be used to financethe purchase of four VLCCs, the total cost of whichis...