Saudi's Kayan Finances Jubail Investment With US$6bn In Loans

Saudi Kayan Petrochemical Company has finalised US$6bn in loans to finance some of its costs for its new complex in Saudi Arabia's industrial city, Jubail. The US$6bn consists of a 15-year US$1.8bn commercial bank tranche, a US$1.5bn export credit agency-covered tranche, a US$1.5bn Public Investment Fund loan, a US$530mn Saudi Industrial Development Fund loan and a US$500mn Kexim (the Export-Import Bank of Korea) loan. Kayan's financing has been in the pipeline since its IPO in May 2007. It was arranged by ABN Amro Bank, Arab Banking Corporation, BNP Paribas and Samba.

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