Arab Today, arab today saudi aramco total venture to raise 1bn
Last Updated : GMT 11:11:20
Arab Today, arab today
Arab Today, arab today

Saudi Aramco, Total venture to raise $1bn

Arab Today, arab today

Arab Today, arab today Saudi Aramco, Total venture to raise $1bn

Riyadh - Arabstoday

Saudi Aramco and France\'s Total are set to issue up to SR3.75bn ($1bn) in Islamic bonds, or sukuk, with final pricing expected by the end of the month, lead arrangers said on Tuesday. The sukuk, open only to Saudi investors, will be issued by Saudi Aramco Total Refining and Petrochemical Co (SATORP) to help finance the Jubail refinery project. The company got regulatory approval for the issue in August. \"It\'s up to SR3.75bn. It’s been offered in Saudi riyals only to Saudi entities, could be less, but you can\'t exceed SR3.75bn,\" Usman Sikandar, director and co-head of investment banking at Saudi Fransi Capital, said at an investor presentation.He added that the sukuk would mature about 11 years after completion of the refinery, expected in December 2013.Deutsche Securities Saudi Arabia, Samba Capital and Saudi Fransi Capital were appointed joint lead managers and joint bookrunners for the sukuk.\"This is a very good project, it’s a secure project, the sponsors are guaranteeing this, so the risk factor is very low and it’s a good investment and there\'s a lot of cash in the kingdom,\" Fawwaz Nawwab, Satorp chief executive told reporters. The total estimated cost of the refinery is $14bn, Satorp executives said. Bankers said final pricing for the sukuk - which will be calculated on the basis of six-month Saudi interbank offered rate - would be released on Sept 28. Final allocations are due to be completed on Oct 3, with settlement expected on Oct 8.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi aramco total venture to raise 1bn Arab Today, arab today saudi aramco total venture to raise 1bn

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi aramco total venture to raise 1bn Arab Today, arab today saudi aramco total venture to raise 1bn

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan

GMT 04:23 2017 Tuesday ,20 June

Oil prices flat after weeks of steep declines

GMT 06:08 2017 Sunday ,18 June

Lower oil prices set to test US shale driller

GMT 05:10 2017 Wednesday ,14 June

Oil prices edge down

GMT 05:22 2017 Tuesday ,13 June

Oil rises as investors buy into US crude

GMT 15:11 2017 Saturday ,10 June

Oil prices steady despite supply glut
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday