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SecuritizationCLOs-CDOs

Sadara and QNB prices shock but lift volume hopes

Bankers were shocked this week at the aggressive pricing demanded by Saudi Arabia’s Sadara as funding officials of the integrated chemicals complex project approached banks for long term financing for around $4bn. Sponsors Dow Chemicals and Saudi Aramco are aiming for a margin as low as 45bp, a price that international lenders have derided as unrealistic.

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