VOL XL

No. 03

20-January-1997

SAUDI ARABIA

Bankers Meet SABIC On Ibn Rushd

The financing for another SABIC project, IbnRushd, is also expected soon. MEES understands that the participating banks have ameeting with SABIC this week where all terms and conditions are expected to be finalized,although the banks are not expecting to sign documentation. The scheme calls for a totalof $850mn in debt over 10 years to cover the construction of phases 2 and 3 of Ibn Rushd'sexpansion - the aromatics and PTA...