- LONDON: SABIC Capital, affiliated to petrochemicals giant Saudi Arabia Basic Industries Corp.
- (SABIC), has mandated five banks to arrange a $2 billion, five-year loan, banking sources said on Wednesday.
The five coordinators are Bank of Tokyo-Mitsubishi UFJ, Citi, SMBC, ING and Mizuho, one of the sources said.
The financing is expected to carry a sub-50 basis points (bps) over LIBOR margin and an all-in spread of less than 100 bps, sources previously told Thomson Reuters Loan Pricing Corp. Syndication is expected to close before the summer period.
SABIC was not immediately available for comment.