Acting as a joint lead manager and Joint Bookrunner for Sabic Europe BV, the European subsidiary of Saudi Basic Industries Corporation (Sabic), HSBC has raised €2 billion in debt for the company. Sabic successfully raised the funds for a €750 million Eurobond (for 7 years) and a €1.25 billion Syndicated Loan. Proceeds from the Eurobond will be used to refinance existing debt, fund the capital expenditure programme of the issuer and its subsidiaries, and for other general corporate purposes.
The capital raising follows Sabic's groundbreaking SR3 billion domestic Islamic bond (Sukuk) issuance in July 2006, the first raised by a Saudi corporate. Investors in the Sabic Europe Eurobond are truly global, with the Middle-East accounting for 33%, continental Europe 37%, UK 24% and Asia 6%.
05-Dec-06 
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