Sabic signs $2bn loan

16 Jun 2011

Chemicals and fertiliser manufacturer Saudi Basic Industries Corporation (Sabic) has signed a $2bn five year loan. It is split between a $1.25bn syndicated facility and $750m in co-ordinated bilateral deals.

The self-arranged facilities offered lenders a 40bp margin for the revolving credit portion with different margins on the swing lines. BTMU, Citi, ING, Mizuho and SMBC co-ordinated the deal.

Sabic reported net income of SR21.5bn ($5.7bn) for 2010, up from SR9bn ($2.4bn) in 2009.

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