Financial and Banking News
Riyad Bank, ABC and GIB Sign Finely Priced Loan for Saudi Arabia's Sharq
Three banks participated in the $350mn loan for Saudi Arabia's EasternPetrochemical Company (Sharq), signed on 15 February. The loan is for 8 1/2years with three years' grace. It can be drawn in either Dollars, Yen or SaudiRiyals and the average price will be around 30 bp over Libor. It is unlikelythat the full $350mn will be drawn.