SADAF's $700Mn Loan Signed
The Saudi Petrochemical Company (SADAF) and a syndicate of 44 banks on 8 November signed an agreement for the $700mn loan which has been in the pipeline for over a year now. (MEES, 6 June 1994). The loan will be for 8.5 years and will be priced at 125bp over Libor - a much higher price than the subsidiaries of the Saudi Basic Industries Corporation (SABIC) have recently been paying. It is underwritten by eight...