Ma'aden seeks to refinance $1bn MBAC loan

In:

Mining

Region:

Middle East & Africa

Saudi Arabian Mining Company (Ma’aden) has hired BNP Paribas and National Commercial Bank to advise on refinancing $1 billion of debt for its subsidiary Ma’aden Bauxite and Alumina Company (MBAC). MBAC is a joint venture with junior partner Alcoa and originally raised 8 billion riyals of debt financing from commercial banks, PIF and SIDF in 2011.

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