Saudi Aramco Seeks Multibillion-Dollar Project Finance for Sadara

Saudi Aramco has approached local and international banks seeking to raise $12.5 billion in debt to help finance the $20 billion Sadara joint venture with Dow Chemical at Jubail, Saudi Arabia, according to Project Finance International (PFI).   The multi-tranche, multi-tenor financing will include an export credit agency (ECA) portion as well as commercial bank and capital market parts. The financing will mature after 16 years while the ECA portion will have a tenor of 17 years. The financing includes completion and construction guarantees from Aramco and...

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