Ma'aden to borrow $2.7b

DUBAI — Saudi Arabian Mining Company, a state-owned metal and mineral producer, plans to borrow as much as $2.7 billion to help finance a phosphate fertilizer project it's planning with Saudi Basic Industries Corporation, or Sabic.

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By (Bloomberg)

Published: Thu 4 Oct 2007, 8:22 AM

Last updated: Sat 4 Apr 2015, 11:24 PM

Ma'aden, as the company is known, will seek underwriters for the 15-year loans by early November to syndicate the debt in early 2008, said a person familiar with the plan, who asked not to be identified as the discussions are private. Ma'aden wants the loans to be structured as Islamic-compliant investments, the person said.

(Bloomberg)

Published: Thu 4 Oct 2007, 8:22 AM

Last updated: Sat 4 Apr 2015, 11:24 PM

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