SABIC secures $1bn credit

Saudi Basic Industries Corp (Sabic) has secured a $1bn Shari'ah-compliant credit facility from Saudi-based Alinma Bank, Reuters has reported. The facility will fund some of Sabic's petrochemical projects, as part of its strategic plans to enhance financing performance and help it achieve its expansion and growth strategy, the lender said. The firm did not disclose the terms of the facilities.

Posted on Wednesday, June 16-2010

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