Ex-Im Grants Historic $5B Loan For Saudi Petrochem Plant

Law360, New York (September 28, 2012, 5:01 PM EDT) -- The U.S. Export-Import Bank has signed off on a $4.975 billion direct loan to support a $20 billion petrochemical complex Dow Chemical Co. is building in Saudi Arabia, the bank announced on Friday, marking the export credit agency's biggest transaction to date.

The mammoth transaction breaks several records for Ex-Im, including single-transaction dollar value and job support, according to a statement from the bank. The financing will directly or indirectly support approximately 18,400 American jobs in 13 states, 12.5 percent of which will come from small...
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