VOL. XL
No. 11
17-March-1997
SAUDI ARABIA
SABIC Signs $850Mn Ibn Rushd Loan
Bahrain-based bankers say that the $850mn loan signed on 12March by the Saudi Basic Industries Corporation (SABIC) and a syndicate of eight banks"sold very well" and was around 50% oversubscribed. The loan, which will partlyfinance the expansion project of the Arabian Industrial Fibers Company (Ibn Rushd) complexat Yanbu', has a tenor of 10 years and is priced at 82.5 basis points (bps) over Liborprior to the...
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