SABIC Capital, affiliated to petrochemicals giant Saudi Arabia Basic Industries Corporation (SABIC), has mandated five banks to arrange a $2 billion, five-year loan, banking sources said Wednesday.
The five coordinators are Bank of Tokyo-Mitsubishi UFJ, Citi, SMBC, ING and Mizuho, one of the sources said.
The financing is expected to carry a sub-50 basis points (bps) over LIBOR margin and an all-in spread of less than 100 bps, sources previously told Thomson Reuters Loan Pricing Corporation.
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