VOL. XLIII

No. 09

28-February-2000

SAUDI ARABIA

Ibn Rushd Confirms $850Mn Rescheduling Request

The Saudi Basic Industries Corporation (SABIC) subsidiary Arabian Industrial Fibers Company (Ibn Rushd) met with representatives of its creditors on 15 February to discuss the rescheduling of the companys $850mn facilities. According to a statement released the same day by SABIC, the meeting was convened to discuss the loans issued to Ibn Rushd in 1997 to support the construction of two plants....