VOL. XXXIX

No. 37

10-June-1996

SAUDI ARABIA

BNP Lends NCC $50Mn

Under an agreement signed on 4 June, Banque Nationale de Paris (BNP) will lend Saudi Arabia's National Chemical Carriers (NCC) $50mn to part finance the cost of a new $70mn petrochemical carrier due to be delivered in October. The loan is repayable in eight and a half years, starting sixth months after the delivery of the carrier. The carrier, al- Jubail, is the third of three 37,000 dwt vessels ordered by NCC at Kvaerner's...