VOL. XLI

No. 19

11-May-1998

SAUDI ARABIA

Ibn Zahr Signs Loan

The SABIC affiliate the Saudi European Petrochemical Company (Ibn Zahr) signed itspreviously-announced $400mn loan on 6 May. MEES understands that the pricing on the8.5-year loan was 55bps over Libor with fees of 70bps and that the deal was signed underSaudi law, making it something of an exception from recent SABIC loans. The pricingcompares with the larger 10.5-year, $2.3bn Yanpet II deal which was set at 52.5bpspre-completion and...