NO. 2


Financial and Banking News

Regional Financing

Terms of Vela Loan still Being Discussed, No Allocations yet

The $300mn loan for Vela, the tanker subsidiary of Saudi Aramco, has beenoversubscribed, but allocations have not yet been made, banking sources say.Local banks submitted offers on the basis of a draft term sheet, and arrangers,National Commercial Bank, are now finalizing the information memorandum andfinal terms with the borrower. These should be completed...