SABIC Capital is seeking a $2 billion five-year credit facility, Reuters reports. The firm appointed Bank of Tokyo-Mitsubishi, Citi, SMBC, ING and Mizuho to arrange the loan.
SABIC Capital was set up to look after the financing and tax operations of SABIC’s European and the U.S. investments. SABIC, which is 70% owned by the government of Saudi Arabia, is a manufacturer of chemicals, plastics and metals used in paint, rubber and other consumer industries.
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