Tagged: Saudi Basic Industries Corp

Saudi’s SABIC says to issue sukuk for projects

Saudi’s SABIC says to issue sukuk for projects

Saudi Basic Industries Corp (SABIC), the world’s biggest petrochemicals group, will issue a sukuk late this year or next year to fund coming projects. SABIC has 40 billion riyals ($10.7 billion) worth of projects over the next few years and the company…

Alinma Bank, Tokio Marine plan insurance firm

Alinma Bank, Tokio Marine plan insurance firm

Saudi’s Alinma Bank and the Saudi arm of Tokio Marine have signed an agreement to set up an insurance firm with a capital of 200 million riyals ($53 million).
In the statement there was said that Saudi Basic Industries Corp will hold a 5 percent stake …

Saudi’s SABIC gets $1bn credit from Alinma Bank

Saudi’s SABIC gets $1bn credit from Alinma Bank

Saudi based Alinma Bank said that it would grant a $1bn credit facility to SABIC, plugging a financial gap at the petrochemical group. SABIC Chief Executive Mohamed al Mady declined to comment while Chief Financial Officer Mutlaq al Morished could not …

Saudi’s SABIC gets $1bn credit from Alinma Bank

Saudi’s SABIC gets $1bn credit from Alinma Bank

Saudi Basic Industries Corp will be granted a $1 billion credit facility by Alinma Bank, plugging a financing gap at the world’s biggest petrochemicals group.

The facility aims to enhance SABIC’s financing performance, boost competitiveness and help achieve its expansion and growth stategy.