SAUDI ARAMCO TOTAL Refining and Petrochemical Company (SATORP)
COMPLETES US$8.5 BILLION PROJECT FINANCING FOR JUBAIL REFINERY
DHAHRAN, SAUDI ARABIA AND PARIS, FRANCE
June 25, 2010 - SAUDI ARAMCO TOTAL Refining and Petrochemical Company (SATORP) ,
a company that is 62.5% owned by Saudi Aramco and 37.5% owned by TOTAL signed on
June 24, 2010, the finance documents for US$8.5 billion of senior project finance facilities that
have been secured for the Jubail refinery.
The availability of the financing marks another important step in the progress of this 400,000
barrels per day world-class, full conversion refinery in Jubail, Saudi Arabia, which is scheduled to
be operational in 2013.
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 billion from commercial financial institutions.
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.
The International Initial Mandated Lead Arrangers are :
Credit Agricole - CIB; Société Générale; Kfw - IPEX Bank; Deutsche Bank; HSBC; Bank of Tokyo-
Mitsubishi UFJ; Mizuho Corporate Bank; Standard Chartered Bank; Sumitomo Mitsui Banking
Corporation; Export Development Canada; Arab Bank; Barclays; Citibank; JP Morgan; Royal Bank
of Scotland; Arab Petroleum Investments Corporation; and Gulf International Bank.
The Saudi Arabian Initial Mandated Lead Arrangers are :
Banque Saudi Fransi; Riyad Bank; Samba Financial Group; Arab National Bank; Saudi British
Bank; National Commercial Bank; Al Rajhi Bank; Alinma Bank; Saudi Hollandi Bank; Islamic
Development Bank; Bank Al-Jazira; and Saudi Investment Bank.