VOL. XXXVIII

NO. 37

12-JUNE-1995

RegionalFinancing

SadafLoan Oversubscribed

The$700mn loan for the Saudi Petrochemical Company (Sadaf) has been oversubscribed,according to bankers involved in underwriting it. The bankers said that 39Saudi, Arab and international banks applied for a share of the loan, the largestcommercial undertaking of its kind in the Gulf. The fact that the loan isgoverned by English law and not Saudi law, plus favorable pricing, was given asthe reason for the widespread...