NO. 23


Financial and Banking News

Regional Financing

Saudi Companies Seek New Loans, As Talks Proceed On Qatargas Upstream

Saudi Arabia's National Shipping Company (NSC) is preparing to mandate banksto raise a $350mn loan to finance its purchase of five VLCCs from MitsubishiHeavy Industries. The total financing requirement is about $500mn. NSC wants a12-year loan with two years' grace to take account of the construction period.The four groups bidding for the mandate are...