Wednesday 30 May 2012

Saudi Aramco seeks $12.5 billion in debt for Dow project: PFI - Yahoo! News Maktoob

State-owned oil giant Saudi Aramco is seeking to raise $12.5 billion in debt to help finance its joint venture with Dow Chemical , according to a report in Project Finance International (PFI), a unit of Thomson Reuters.
Saudi Aramco has sent an information memorandum to local and international banks detailing the $20 billion project with Dow Chemical. The project is due to be completed in 2016, and will produce more than 3 million metric tons a year of petrochemicals.
The multi-tranche, multi-tenor financing strategy will include an export credit agency (ECA) portion, a commercial bank tranche and a capital markets part, most likely a 144a issue, open to U. S. investors, or an Islamic bond.

No comments:

Post a Comment