Sadara Signs Funding Agreements for a Total of $10.5 Billion

摘要

After successfully completing an issue of Islamic bonds (sukuks) worth SR 7.5 billion ($2 billion) in April (AOG, 16 April, 2013), Sadara Basic Services Company (SBSC) signed a number of final bank facilities agreements for additional funding of $10.5 billion with its parent company, Sadara Chemical Company (Sadara), on 16 June. These facilities are for a 12-year term, covering the period from 16 June 2013 to 30 June 2025. The funding agreements were signed with Saudi and foreign banks, export credit agencies, including Export and Development Canada (EDC), the Islamic Development Bank (IDB), and Saudi Arabia's Public Investment Fund (PIF), which is providing $1.3 billion.