Financing strategy
Our financing policy aims at ensuring sufficient liquidity levels at all times for SABIC while optimizing the returns to our shareholders. We use leverage prudently to fund our global growth ambitions. Our strong credit profile and corporate credit ratings (A+/ stable) reflects the strength of our financing strategy and its execution.
Long-term debt maturity profile
Liabilities structure (SR billion)
| 2012 | 2011 |
| Term Loans |
|
|
| Commercial papers | 62,299,205 | 61,698,911 |
| Public Investment Fund (PIF) | 7,081,875 | 7,782,094 |
| Saudi Industrial Development Fund (SIDF) | 2,804,875 | 3,300,760 |
| 72,185,955 | 72,781,765 |
| | | |
| Notes | 10,000,000 | 8,000,000 |
| Bonds | 7,468,425 | 7,389,675 |
| Sukuk | 5,000,000 | 13,000,000 |
| Total Debt | 94,654,380 | 101,171,440 |
| | | |
| Less: Current portion | (15,029,453) | (13,264,041) |
| Long term debt | 79,624,927 | 87,907,399 |
Issuances in Capital Markets
| Debt type | Issuer | Volume | Term | Listing | ISIN Code | Prospectus |
| Sukuk III | SABIC Corp. | SR 5 bln | 2008/2028* | Saudi Arabia | SA122G50VEJ5 | Download |
| 4.5% Euro Bond | SABIC Capital I BV | € 750 mln | 2006/2013 | Luxembourg | XS0401836803 | Download |
| 3% USD Bond | SABIC Capital I BV | $ 1 bln | 2010/2015 | U.K. | XS0554434240 | Download |
* Sukuk III callable in 2013
Bond Issuance Statement
The securities covered on the following webpages have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons as part of their distribution at any time or otherwise until 40 days after the completion of the distribution of the Securities as determined and certified by the Manager, except in either case in accordance with Regulation S under the Securities Act.
The terms used above have the meaning given to them in Reg S under the Securities Act.