Financial and Banking News
Citibank Commercial Loan for Algerian LNG Delayed but Exim Portion Signed
Citibank signed a $543mn loan with Sonatrach on 11 October. The loan is fullybacked by the US Eximbank and will cover most of the cost of renovating three ofAlgeria's four LNG plants (for project details see MEES, 16 September). Citibankhas underwritten the full amount and says that it may sell portions of the dealto other banks during the drawdown schedule....