Saudi Arabian Oil Co. and Dow Chemical Co. (DOW) sent requests to banks for $12.4 billion in financing for Sadara Chemical Co., their $20 billion joint venture, two bankers with knowledge of the situation said.
The Saudi company, also known as Saudi Aramco, and Dow Chemical plan to raise $2.66 billion in bank loans, $1.4 billion from the sale of Islamic bonds, $6.5 billion from export credit agency financing, $1.3 billion from Saudi’s Public Investment Fund, and $530 million from the Saudi Industrial Development Fund, the people said……………………………………….Full Article: Source