The two petrochemicals projects are expected to reach financial completion in early and late May respectively, concluding a protracted financing process that began in the third quarter of 2007.
The NCP deal to raise $1.8bn in debt to finance a $5bn petrochemical project at Jubail began in September 2007, while the $10bn Kayan project has also been in the market since September (MEED 17:1:08).
Bankers working on the $6bn debt package for the Kayan deal have been expecting it to close since March, but hit problems finalising a loan from the Public Investment Fund (PIF). They say they are now optimistic that the deal can reach a conclusion in the next four weeks.
You might also like...
McDermott completes financial restructuring exercise
28 March 2024
Region heads for hotel boom
28 March 2024
Lowest bidders emerge for Kuwait housing project
28 March 2024
Redcon wins Red Sea Triple Bay infrastructure deal
28 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.