On June 24, 2010, SATORP signed the finance documents for US$8.5 billion of senior project finance facilities for the Jubail refinery.
The International Initial Mandated Lead Arrangers were:
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 were
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.
Participation from Export Credit Agencies included the following:
Korea Export Insurance Corporation (KEIC); Compañía Española de Seguros de Crédito a la Exportación (CESCE); Export-Import Bank of Korea (K-EXIM); Compagnie Française d'Assurance pour le Commerce Extérieur (COFACE); Japan Bank for International Cooperation (JBIC); Nippon Export and Investment Insurance (NEXI); and Euler Hermes Kreditversicherungs-AG (Hermes).
Credit Agricole CIB and Banque Saudi Fransi acted as financial advisors to SATORP and Allen & Overy as SATORP’s international and local legal counsel. Société Générale acted as Documentation Bank on the conventional tranche and Crédit Agricole CIB as Documentation Bank for the Islamic Tranche. Linklaters LLP acted as lenders’ international legal counsel and Abdulaziz H. Fahad as lenders’ local legal counsel.