Satrop to issue Islamic Bond for new refinery in Saudi Arabia

Saudi Aramco Total Refining and Petrochemical (Satrop) has chosen three banks to arrange for its Islamic bond, that will help to finance the construction of a large refinery complex at Jubail on the Persian Gulf coast, Saudi Arabia. The three banks are: Deutsche Securities Saudi Arabia, Samba Capital and Saudi Fransi Capital.
The company's proposal is to construct a refinery worth $10bn.

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