hi correspond Petrochemicals Company What happened 6/97Boubyan initial public come toering: opens at cd fils 9/15/96 cope with financing closes: $1.2B of circumference debt includes two $100m Moslem tranches TII underwrites $120m, KFH does $80m 11/12/97 emeer of Kuwait opens the plant 11/97Sponsors refinance the run across extend matureness date and reduce the rate 6/99 match loses $210m in first off full year of operations volumes as expected, prices down 24% - 40% 8/99Sponsors recapitalize: invest $700m more goop D/V locomote from 86% to 63% (total debt) The recapitalization is. . .being undertaken to beef up the capital structure to rectify its profitability, which had been negatively affected by the length, depth, and timing of the present-day(prenominal) trough in the petrochemicals market. Equate Petrochemicals Company What happened 11/01Refinance $900m of debt (keep the Muslim tranche) 2003Planning for $1.7B expansion (Equate II) - PIC (42.5%) and Dow chemical substance (42.5%) - Boubiyan (10.0%) and Local investors (5.
0%) - capacity: 850K rafts ethane,- Commissioning date proterozoic 2007 2004Some early discussions of Equate III Equate Profitability: YearNet profit 1998($210m) 1999 $25m (estimate) 2000$180m 2001$145m 2002$107m 2003 before dour to be released 1/31/04Boubyan stock price = 485 fils Equate Petrochemicals Company Projects with Islamic Finance make Into the Deal 1) Thuraya Satellite Telecom ($1B) in 1999 - $100m Islamic tranche for this UAE give 2) Shuweihat Water and role ($1.6B) in 2001 - $250m Islamic tranche for project in Abu Dhabi 3) Al Hidd 2 power project ($255m) in 2002 - $55m Islamic tranche for this deal in Bahrain 4) Aluminum Bahrain 5th Potline enlargement (Alba) in 2003 - $250m Islamic tranche in a $1.55B deal Equate Petrochemicals Company Comments on Islamic Finance We are intelligibly seeing...If you want to get a full essay, order it on our website: Ordercustompaper.com
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