Saudi chemicals manufacturer set for 40bp margin

31 May 2011

Commitments are due today for a new loan of up to $2bn for chemicals and fertiliser manufacturer Saudi Basic Industries Corporation (Sabic), according to bankers looking at the deal.

The self-arranged deal offers lenders a 40bp margin for the revolving credit facility portion of the loan with different margins on offer for swing lines of up to $500m. BTMU, Citi, ING, Mizuho and SMBC are coordinating the deal.

Sabic reported net income of SR21.5bn ($5.7bn) for 2010, up ...

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