Aramco and Dow reach deal on Sadara debt restructuring, allocate more gas

Aramco and Dow reach deal on Sadara debt restructuring, allocate more gas

Saudi Aramco said it restructured its debt financing for Sadara Chemical Company, its joint venture with Dow Chemical.
The Saudi national oil company also said an agreement had been reached to allocate more natural gas feedstock to the joint venture, which has been building the world's biggest chemical complex ever delivered in a single phase, in Jubail.
Saudi Aramco and Dow have agreed to guarantee up to an aggregate of $3.7 billion of senior debt principal in proportion to their ownership interests in Sadara, Aramco said in a stock exchange filing.