Wednesday, December 30, 2009

SABIC teams up with state fund for US$2.67 bln bond issues

Saudi state-controlled petrochemicals giant SABIC is opting for its first private bond placement to raise 10 bln riyals (US$2.67 bln) to boost its finances and fund expansion plans. Proceeds from the bonds, which will carry maturities of seven years, will help raise financing performance, boost competitiveness and contribute to achieve the company's expansion strategy.

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