Yasref Secures $4.7bn Loan To Release Capital

The Yasref refinery joint venture of state petroleum firm Saudi Aramco and China’s Sinopec has secured a $4.7bn syndicated loan to release capital now the project is fully operational. The loan comprises a $3.1bn seven-year term facility and a seven-year SR6bn ($1.6bn) loan. The 400,000 b/d refinery shipped its first cargo in January 2015, after a development costing an estimated $10bn.

The $3.1bn tranche will be provided by Bank of Communications Hong Kong, Bank of China Dubai, China Construction Bank Dubai, Bank of China London, China Construction Bank Hong Kong; US’s JP Morgan, Citigroup and Morgan Stanley; Japan’s Sumitomo Mitsui Banking Corporation, Mizuho and Bank of Tokyo-Mitsubishi; Export Development Canada; Germany’s Deutsche Bank; France’s BNP Paribas and Credit Agricole; Switzerland’s Credit Suisse; UK’s HSBC and Standard Chartered; and Qatar National Bank, Project Finance International (PFI) reports.


DON'T HAVE AN ACCOUNT?


NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?

By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.

UPGRADE