VOL. XLII
No. 18
3-May-1999
SAUDI ARABIA
STC Secures $600Mn From Saudi Consortium
The Saudi Telecommunications Company (STC) has secured a SR2.25bn ($600mn) syndicated loan facility from a group of Saudi banks. MEES understands that Riyad Bank, Saudi British Bank, National Commercial Bank and Arab National Bank have wholly underwritten the STC loan, which is to be used to pay arrears. Bankers in the Gulf told MEES that the three-year facility was priced at 85bps for the first year and 65bps for...
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