VOL. XLII

No 45

8-November-1999

SAUDI ARABIA

SABIC痴 HADEED Reschedules $1.26Bn In Loans

Saudi Iron and Steel Company (HADEED), a wholly-owned affiliate of the Saudi Basic Industries Corporation (SABIC), announced on 31 October that it had successfully completed the rescheduling of $1.26bn (SR4.73bn) in syndicated loans from a group of 31 local, regional and international banks. HADEED is reported to have requested a 3ｽ year extension on its repayment schedule, and according to sources...