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...