SIPCHEM ANNOUNCES THE SIGNING OF LOAN AGREEMENT FOR ITS AFFILIATE INTERNATIONAL POLYMERS COMPANY WITH PIF

Saudi International Petrochemical Company (Sipchem) announced that its affiliate, International Polymers Company (IPC) has signed on 10 June 2013 a financing agreement of SR 704 million (US$ 188 million) with Public Investment Fund (PIF). The loan is repayable over 14 years in 26 semiannual and equal installments commencing December 2014. The loan is payable until 30 June 2027 and secured until project completion by order notes. The purpose of this agreement is to support the project financing of a greenfield EVA/LDPE plant.