Satorp Completes $8.5B Financing For Jubail Refinery

28-Jun-10
Saudi Aramco Total Refining and Petrochemical Company (SATORP) has signed finance documents for senior project finance facilities to the tune of US$8.5 bln secured for the Jubail refinery. The senior loan facilities have a tenor of 16 years with an all in pricing of 1.85% (above LIBOR) for the US Dollar commercial and Export Credit Agencies (ECA) covered loan facilities. The financing has been very well received by a diverse group of local, regional and international banks, with commitments received for over US$13.5 billion. Finances totalling US$8.5 billion were secured from multiple sources including US$4.01 billion from the Public Investment Fund and Export Credit Agencies (covered and direct), and US$4.49 bln from commercial financial institutions.
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