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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Performance more

Sukuk-based project finance takes off

Posted on 03 August 2010

From Thebanker.com: The capital markets were deemed too fragile to issue a riyal-denominated Islamic bond to help fund Satorp’s greenfield refining project in Saudi Arabia, but that doesn’t mean this type of asset funding has gone away. Project sukuk are becoming well known in the Middle East as Islamic finance-friendly products.
Towards the end of June, lenders agreed to the Gulf’s largest project financing deal of the year, a $8.5bn funding package for Saudi Aramco Total Refinery and Petrochemical Company’s (Satorp) greenfield refining and petrochemical project at Jubail in Saudi Arabia’s Eastern Province……………………………………….Full Article: Source

 
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