Thursday, Jun 14, 2012
Saudi Arabian Oil Co., or Saudi Aramco, and Dow Chemical Co. (DOW) could raise at least 7.5 billion riyals ($2 billion) in Islamic bonds as part of the $12.4 billion in financing they are seeking for their joint venture Sadara Chemical Co., Bloomberg News reported on its website Thursday, citing two bankers familiar with the deal.
The two companies may also sell a dollar-denominated tranche, Bloomberg reported one banker as saying. They have hired the investment arms of Deutsche Bank AG (DB), Riyad Bank (1010.SA), Alinma Bank (1150.SA) and Bank Al Bilad (1140.SA) to manage the sale, it said.
Saudi Aramco declined comment, while a Dow spokeswoman couldn't immediately comment, the report said.
Full story: http://www.bloomberg.com/news/2012-06-13/dow-chemical-aramco-said-to-plan-2-billion-sukuk-for-venture.html
(END) Dow Jones Newswires
14-06-12 0152GMT
