Thursday 22, May 2008 by
Project finance still strong in Saudi says Allen & Overy
A report by law firm Allen & Overy says that Saudi finance markets remain resilient with the closing last week of the refinancing of the $1.8 billion Jubail Acetyls Complex and news that three more Saudi projects it is advising on are close to completion. The petrochemical deal saw Allen & Overy advise project companies, majority owned by Saudi International Petrochemical Company (Sipchem), as borrowers on the $745 million debt refinancing underwritten solely by Saudi British Bank (Sabb).
