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SABIC Signs an Agreement for the Issuance of Bonds

Source: www.gulfoilandgas.com 12/30/2009, Location: Middle East

Following the approval of the Saudi Capital Market Authority, the Saudi Basic Industries Corporation (SABIC) signed an agreement for private bond placement with the Public Investment Fund (PIF) on December 29.

The agreement calls for several issues to raise the total amount of SR10 billion. Proceeds from the bonds, which will carry maturities of seven years from the date of each issue and will finance part of SABICís projects within the framework of its strategic plans and programs to raise the level of financial performance, boost competitiveness, and contribute to the company's strategy to expand and grow.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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