VOL. XLIII

No. 45

6-November-2000

SAUDI ARABIA

ABC And Apicorp Finance En Naga Field Development

The Arab Banking Corporation (ABC) of Bahrain and Saudi-based Arab Petroleum Investments Corporation (Apicorp) on 25 October signed a $50mn loan agreement with International Petroleum Libya (IPL) and Lundin Investments. The facility, which carries a tenor of six years and is priced at 200bps over Libor, will be used to develop the En Naga oilfield in Libyas Block NC 177, including the connection of the...