The Dow Chemical Company (DOW) announced the signing of the main financing for the Sadara project. Sadara Chemical Company, Dow's joint venture with Saudi Arabian Oil Company, entered into definitive agreements with certain export credit agencies, commercial banks and the Public Investment Fund of the Kingdom of Saudi Arabia for approximately $10.5 billion of additional project financing.
The company said the financing supplements the $2 billion raised through a Sukuk Islamic bond issuance in April, 2013, bringing the total Sadara project financing raised to approximately $12.5 billion.
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