Apostolos Bantis and Revolving Credit

company: Yet, it the very factor hurting the securities -- the slump in oil prices eroding state revenue -- that probably encouraging the company to consider fresh revolving credit facilities and a potential $1.5 billion sukuk programme, according to Commerzbank, according to Business Week. Their concern is that the government may start to take more structural measures, which may include a reduction in subsidies the company gets from the sovereign, said Apostolos Bantis, a Dubai-based credit analyst at Commerzbank. Two of the utility Islamic bonds, typically used as a proxy for Saudi Arabia sovereign debt, lost the most among their peers last month, according to data compiled by Bloomberg. The sukuk performance is nothing specific to the company itself, it more a weakening perception for Saudi risk, and concerns about currency devaluation," he said. OPEC biggest oil exporter and the largest economy in the Arab world is reviewing its spending plans for next year, and may delay infrastructure projects, two people familiar with the matter said last week. Costs for insuring the kingdom debt have skyrocketed, bets for a currency devaluation soared and the government has returned to the long-term domestic debt market for the first time in eight years after its main source of revenue plunged. (news.financializer.com). As reported in the news.