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Alcoa-Maaden joint venture raises $4.5bln

Posted on 12 July 2010

From Arabnews.com: Alcoa’s joint-venture with Saudi Arabian Mining Co. (Maaden) has raised $4.5 billion in debt for their giant aluminum project. Pricing for the combined conventional and Islamic debt ranges from 165 to 275 basis points over Saudi Interbank Offered Rate (SAIBOR) depending on riyal and dollar funding and the stage of projects.
The $7.5 billion project, expected to be one of the world’s largest aluminum projects, consists of a rolling mill and a smelter which will each be financed separately and signed by September, bankers said…………………………………..Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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