Apicorp repays $250m term loan
Manama, April 27, 2010
Arab Petroleum Investments Corporation (Apicorp) has repaid its $250 million five-year term loan.
It entered into the five-year term facility agreement on April 27, 2005, with a maturity date of April 27 this year, chief executive and general manager Ahmad bin Hamad Al Nuaimi said.
'Despite the impact of the financial crisis, Apicorp continues to honour its obligations, and carries along with the fulfillment of its objectives of supporting the development of the oil, gas, petrochemicals and energy industries in the Arab world,' he added.
'The sound liquidity that the corporation enjoys has made it possible for it to continue its normal operations and tap the market for competitive term facilities in the future.'-TradeArabia News Service