A Saudi Billionaire Runs Into a Green Problem in Sweden

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Sweden’s Green Party, which along with the Social Democrats makes up the current government, opposes Preem Holdings AB’s plans to expand its Lysekil refinery, public broadcaster Sveriges Radio reported.

Preem was granted permission for the expansion by a Swedish appeals court this summer and is awaiting government approval. Climate activists including Greta Thunberg are against the plans.

The company’s $540 million term loan maturing in 2024 is currently marked at 88.625/89.375, according to data compiled by BVAL.

Saudi billionaire Mohammed Al Amoudi owns Preem’s parent company, Corral Petroleum Holdings AB.

©2020 Bloomberg L.P.

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