VOL. XXXVII

NO. 27

4-APRIL-1994

Financial and Banking News

Regional Financing

Saudi Arabia Goes To Local Banks For First Defense Payment Loan

Saudi Arabia's decision to go to local banks, rather than an internationalsyndicate, for the $1.865bn loan to finance deferred arms payments to USsuppliers reflects the complexity of putting such a large facility in placequickly, not least at a time when analysts are asking questions about theKingdom's long-term debt strategy. The money needs to be drawn...