VOL. XL

No. 31

4-August-1997

OAPEC

Apicorp Signs $225Mn Facility

Dammam-based Arab Petroleum Investments Corporation (Apicorp), owned by the 10governments of the Organization of Arab Petroleum Exporting Countries (OAPEC), said on 30July that it had signed a $225mn five-year loan facility with a group of fiveinternational banks. The pricing on the loan - which Apicorp described as the finestachieved to date by a financial institution in the Gulf - is understood to be 32.5bps.This is the first...