SABIC secures $3 bln syndicated bridge loan: report

21/02/2018 Argaam

 

Saudi Basic Industries Corp. (SABIC) recently secured a $3 billion bridge loan to meet ongoing financial requirements, Reuters reported, citing sources familiar with the matter.

 

Details on the lenders or the tenor of the loan were not disclosed.

 

In January, SABIC said it could self-finance a 25 percent stake acquisition in specialty chemicals group Clariant, or could invite banks to partially finance the deal.

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