Yanbu Aramco Sinopec Refining Company (YASREF) $4.7 billion refinancing

26/4/2016
Murabaha, Project finance, Refinancing

$ 4.7 billion

Completed

26/4/2016


Overview:

  • Yanbu Aramco Sinopec Refining Company (YASREF) has taken out $4.7 billion in syndicated loan facilities.
  • The financing is made up of a $3.1 billion conventional facility and a $1.6 billion murabaha (deferred sale) facility.
  • The financing will be used in part to refinance the shareholder funds used for the construction of the company's conversion oil refinery in Yanbu Industrial City.

Sam Duke - Editor

Jurisdiction:

Saudi Arabia

Deal types:

Murabaha
Project finance
Refinancing

Practice areas:

Project finance
Islamic finance

Industry sector:

Oil and gas


Firms:

Party: China Construction Bank Corporation (Bookrunner, Mandated lead arranger, Coordinator)

Party: Bank of Communications Co Ltd (Bookrunner, Mandated lead arranger, Coordinator)

Party: Export Development Canada (Bookrunner, Mandated lead arranger, Coordinator)

Party: Bank of China Ltd (Bookrunner, Mandated lead arranger, Coordinator)

Party: The Bank of Tokyo-Mitsubishi UFJ (Bookrunner)

Party: Mizuho Bank (Bookrunner)

Party: Deutsche Bank AG Na ON (Bookrunner)

Party: Riyad Bank (Bookrunner, Mandated lead arranger)

Party: Al Rajhi Banking and Investment Corporation (Bookrunner, Mandated lead arranger, Coordinator)

Party: Banque Saudi Fransi (Bookrunner, Mandated lead arranger, Coordinator)

Party: The National Commercial Bank (Bookrunner, Mandated lead arranger)

Party: Saudi British Bank (Bookrunner, Mandated lead arranger)

Party: Samba Financial Group (Bookrunner, Mandated lead arranger)

Party: Sumitomo Mitsui Banking Corporation (Mandated lead arranger, Coordinator)

Party: JPMorgan Chase (Mandated lead arranger, Coordinator)

Party: HSBC (Mandated lead arranger)

Party: Credit Suisse (Mandated lead arranger)

Party: Citibank (Mandated lead arranger)

Party: Standard Chartered (Mandated lead arranger)

Party: BNP Paribas (Mandated lead arranger)

Party: Qatar National Bank (Mandated lead arranger)

Party: Crédit Agricole (Mandated lead arranger)

Party: Bank Albilad (Mandated lead arranger)

Party: Morgan Stanley (Lead arranger)

Party: Arab National Bank (Lead arranger)

Party: Gulf International Bank (Lead arranger)


Party: Saudi Aramco (Shareholder)

Party: China Petroleum & Chemical Corporation (Shareholder)

Party: Yanbu Aramco Sinopec Refining Company (YASREF) (Borrower)

Lawyer: Jason Kerr