SATORP sukuk named best in Middle East

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The historic sukuk issuance by Saudi Aramco Total Refining and Petrochemicals Company (SATORP) has been named as 2012 Deal of the Year in the Middle East for Infrastructure and Project Finance, by The Banker magazine.

The SR3.749 billion (US$1 billion) issue featured SambaCapital as a joint lead manager and joint bookrunner and it was the first project sukuk issuance in Saudi Arabia as well as in the Middle East.

Eisa Al Eisa, Chairman of SambaCapital, was quoted in regional media as saying the landmark deal could open the doors to more such project-related sukuk issuances in the future.

“SambaCapital is proud of its role in arranging the first project finance sukuk issuance in the Kingdom of Saudi Arabia and regional markets, which should pave the way for increasing sukuk issuances to meet the demand for project finance, particularly given sukuk’s escalating popularity as an attractive Islamic financing product,” he was reported to have said.

The Banker is a UK-based magazine that provides global financial intelligence and ha a database of more than 4,000 banks that helps to identify their comparative financial strengths, soundness, profitability and performance.

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Reading Time: 1 minute

The historic sukuk issuance by Saudi Aramco Total Refining and Petrochemicals Company (SATORP) has been named as 2012 Deal of the Year in the Middle East for Infrastructure and Project Finance, by The Banker magazine.

Reading Time: 1 minute

The historic sukuk issuance by Saudi Aramco Total Refining and Petrochemicals Company (SATORP) has been named as 2012 Deal of the Year in the Middle East for Infrastructure and Project Finance, by The Banker magazine.

The SR3.749 billion (US$1 billion) issue featured SambaCapital as a joint lead manager and joint bookrunner and it was the first project sukuk issuance in Saudi Arabia as well as in the Middle East.

Eisa Al Eisa, Chairman of SambaCapital, was quoted in regional media as saying the landmark deal could open the doors to more such project-related sukuk issuances in the future.

“SambaCapital is proud of its role in arranging the first project finance sukuk issuance in the Kingdom of Saudi Arabia and regional markets, which should pave the way for increasing sukuk issuances to meet the demand for project finance, particularly given sukuk’s escalating popularity as an attractive Islamic financing product,” he was reported to have said.

The Banker is a UK-based magazine that provides global financial intelligence and ha a database of more than 4,000 banks that helps to identify their comparative financial strengths, soundness, profitability and performance.

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