Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Aramco, Dow Venture Said to Seek $12.4 Billion in Funds

Saudi Arabian Oil Co. and Dow Chemical Co. 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, declining to be identified because the information is private. The requests were sent out this week, they said.

The banks have until July 23 to express interest, and the financing may be completed by December, they said. Saudi Aramco and Dow Chemical have hired Royal Bank of Scotland Group Plc and Riyad Bank as financial advisers, they said.

Nicole Hayde, a spokeswoman for RBS in Dubai, declined to comment. Riyad Bank’s public relations department didn’t return calls from Bloomberg. Saudi Aramco declined to comment. Rebecca Bentley, a spokeswoman for Midland, Michigan-based Dow, said she couldn’t immediately comment.

Sadara may begin production in 2015, with 40 percent of its output being exported to Asia and as much as 35 percent to the Middle East and Africa, Dow Chemical Chief Executive Officer Andrew Liveris said May 3.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.