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Sub-200bp pricing for Jubail

25 November 2009

Total and Aramco's $8.3 billion Jubail refinery merchant financing (Sartorp) has defied initial market expectations by pricing the international bank tranche below 200bp. Banks that are still in the process have been sent responses to their RFPs. The deal leans heavily on the liquid Saudi bank market with the riyal component increased to over $2 billion from a planned $1.4 billion and the uncovered international bank...

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