Jubail plays tough, Zayed gets over the line

02 Dec 2009

The sponsors of an $8.3bn project financing for the Jubail oil refinery in Saudi Arabia have made only a small concession to potential lenders in a revised proposal sent out in the last ten days.

Jubail, the biggest new project financing in the Middle East this year, is said to have received ample commitments from lenders. But bankers that are pitching for the deal warned that most lenders were still seeking more than the new offer from the two sponsors, Saudi Aramco and ...

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