A $6 billion syndicated term loan facility for Saudi Kayan Petrochemicals Corp.'s new petrochemicals complex is expected to be signed within days, a banker involved in the transaction said Wednesday.
A $6 billion syndicated term loan facility for Saudi Kayan Petrochemicals Corp.'s new petrochemicals complex is expected to be signed within days, a banker involved in the transaction said Wednesday.

"All the funds needed have been raised. It's just a matter of signing the facility, which will be any day now," the banker, who declined to be named as the loan hasn't been officially closed, told Zawya Dow Jones.

ABN Amro, HSBC PLC, Arab Banking Corp., Samba and BNP Paribas are the managers on the debt program.

Saudi Kayan, an affiliate of Saudi Basic Industries Corp. (2010.SA), will use the funds to build a giant petrochemicals complex at Jubail on the Persian Gulf that will have an annual production capacity of around 5.6 million tons of petrochemical and chemical products when it comes on stream in 2010.

Saudi Arabian Oil Co., or Saudi Aramco, will provide the plant's ethane and butane feedstocks. Sabic owns 35% of Kayan.

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