Saudi's Ma'aden confirms $3 bln loan talks with banks

September 8, 2015 6:20 AM

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DUBAI, Sept 8 Saudi Arabian Mining Co (Ma'aden) said its unit was in talks with local, regional and international banks for a loan of $3 billion to refinance existing debt facility, confirming a Reuters story published the previous day.

The company said it was borrowing through its unit Maaden Phosphate Company (MPC), which produces ammonia and the fertiliser diammonium phosphate, in a 70/30 ownership split with petrochemicals giant Saudi Basic Industries Corp.

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