Petrochem

Petrochem - Saudi Exim Direct Loan

Borrower (s)
Petrochem
Industry
Chemicals/Petrochemicals/Chemicals/Petrochemicals
Area of finance
Export & Agency Finance
Region
Middle East
Countries
United Arab Emirates

Deal Overview

Saudi Exim bank has provided a $25 million credit facility to Emirati chemical distributor Petrochem Middle East. The deal aims to enhance Saudi exports and bolster their competitiveness in global markets. The Saudi Exim Bank will provide credit facilities to Petrochem, creating opportunities for...

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Saudi Exim bank has provided a $25 million credit facility to Emirati chemical distributor Petrochem Middle East. The deal aims to enhance Saudi exports and bolster their competitiveness in global markets. The Saudi Exim Bank will provide credit facilities to Petrochem, creating opportunities for Saudi products to access new markets. This partnership comes at a time of rapid growth and a strong presence of Saudi chemical products in international markets. Petrochem Middle East, the largest chemical distributor in the Middle East and Africa, possesses extensive experience in both regional and global markets. The agreement aligns with the Saudi Exim Bank's mission to expand the global presence of the Kingdom's exports by addressing financing gaps and business risks. It contributes to realizing the goals of Saudi Arabia's Vision 2030 initiative.

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Deal Volume
$25m
Financial Close
22 October 2023
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