Tuesday 03, June 2008 by

Norton Rose advises HSBC on Saudi project

The project, three separate but integrated plants producing acetic acid, carbon monoxide and vinyl acetate monomer, was initially financed in December 2006 by a consortium of major GCC banks and is being refinanced and solely underwritten by HSBC subsidiary, The Saudi British Bank. Financing for the balance of the project costs is expected to come from two Saudi government backed funds, SIDF and PIF, as well as from sponsor equity.