VOL. XLII

No. 13

29-MARCH-1999

SAUDI ARABIA

Apicorp Consortium Wins Mandate For $300Mn Sadaf Loan

On 17 March an Apicorp-led consortium of banks was awardedthe mandate to arrange a $300mn syndicated loan for SABICç—´ subsidiary SaudiPetrochemical Company (Sadaf). The loan, which is Apicorpç—´ third to Sadaf,carries an all-in 1% yield and a tenor of 8.5 years (typical of SABICborrowing). It will be used to finance the expansion of styrene production andto co-generate electricity through two units...