LONDON, 22 June 2006 — ABN AMRO and Saudi Hollandi Bank (SHB) earlier this week closed Saudi Arabia’s largest ever Greenfield project financing for Saudi Basic Industry Corporation’s (SABIC) $5 billion subsidiary, Yanbu National Petrochemicals Company (YANSAB).
ABN AMRO and its 40 percent-owned affiliate SHB acted as financial adviser to YANSAB on the deal that raised $3.5 billion of debt. ABN AMRO acted as the sole bookrunner and initial mandated lead arranger, fully underwriting the commercial debt financing.
YANSAB and its advisers sought to maximize the use of Islamic loans, raising close to $850 million making this the largest Islamic tranche in any multi-sourced project financing closed to date globally.