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International Petroleum to borrow $5bn
- United Arab Emirates: Thursday, July 02 - 2009 at 11:41
Abu Dhabi's International Petroleum Investment Co. (IPIC) plans to borrow $5bn to help pay for its purchase of Canada's Nova Chemicals Corp. and an increased stake in Spain's Cia Espanola de Petroleos SA, Bloomberg has reported. The loan comprises two portions of $2.5bn, maturing in one and two years. Bank of Tokyo-Mitsubishi UFJ, HSBC Holdings Plc and Banco Santander SA are arranging the transaction.
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StaffThursday, July 02 - 2009 at 11:41 UAE local time (GMT+4)
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