VOL. XXXIX

No. 44

29-July-1996

KUWAIT

Equate Loan Divided Into Two Tranches

Gulf Investment Corporation (GIC) has announced details of the final financing package for the Equate Petrochemicals Project. The $1.2bn in debt financing is to be divided into two tranches - Tranche A ($500mn) which will run for 10.5 years, amortizing in 17 equal semi-annual installments, and Tranche B ($700mn), running over 8.5 years and amortizing in 13 equal semi-annual installments. The interest rate margin on...