VOL. XL

No. 27

7-July-1997

SAUDI ARABIA

Ibn Sina Signs $215Mn Facility Under Saudi Law

On 1 July , the SABIC subsidiary, National Methanol Company (Ibn Sina) signed a SR807mn($215mn) loan facility with a group comprising one regional and six Saudi banks torefinance two existing loan facilities. The refinancing, which was arranged under Saudilaw, has a tenor of eight and a half years and was priced at 60bps over LIBOR. The firstof the existing facilities was a Saudi riyal housing loan facility...