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Article: PetroRabigh MLAs chosen.(mandated lead arrangers)(Rabigh Refining & Petrochemicals Company)(Brief Article)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- December 2, 2005
CopyrightCOPYRIGHT 2005 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A 15-strong group of mandated lead arrangers (MLAs) has been formally appointed on the $1,500 million conventional financing tranche for the integrated Rabigh refining and petrochemicals complex. The client, Rabigh Refining & Petrochemicals Company (PetroRabigh), is a joint venture of Saudi Aramco and Japan's Sumitomo Chemical Company. Sumitomo-Mitsui Banking Corporation (SMBC) is acting as financial adviser (MEED 25:11:05).
The pricing on the 15-year deal steps up from 35-65 basis points. Banks were offered the chance to allocate part of their commitment to a $500 million Islamic tranche, which is also likely to be joined by the Islamic Development Bank and Bank ...