SABIC Goes Out For $400Mn
Riyad Bank has won the mandate to lead-arrange $400mn in financing for the SABICsubsidiary, Saudi European Petrochemical Company (Ibn Zahr). The company - which is70%-owned by SABIC, and 10% each by Finland's Neste Oy, Apicorp and Ecofuel of Italy - isplanning to increase its polypropylene production from 350,000 t/y to 620,000 t/y. IbnZahr also produces 1.5mn t/y of MTBE. Riyad Bank is agent and lead-arranger for the loan,...