Middle East Economic Survey

VOL. XLVIII

No 4

24-January-2005

MOROCCO

Financing Signed For Mohammedia Refinery Upgrade

An agreement to provide financing for the upgrade of Moroccos Mohammedia refinery was signed on 19 January. BNP Paribas has been mandated to raise the financing and will act as arranger, co-ordinator and documentation bank for the $350mn loan and will be joined by Barclays, MEES learns. The loan, which has a 14-year tenor, is covered by Italian export credit agency SACE. Margins...