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Saudi Yasref obtains $4.7 billion international loan

by ChemOrbis Editorial Team -
  • 18/04/2016 (17:13)
According to media reports, Yanbu Aramco Sinopec Refining Co (Yasref), an oil refining joint venture between Saudi Aramco and China’s Sinopec, has received a $4.7 billion loan to refinance shareholder money used in construction spending.

Yasref said $3.1 billion of the loan was obtained from 17 regional and international institutions on a dollar basis at 105 basis points over the London interbank rate while the rest of the loan accounting to 6 billion riyals ($1.6 billion) was obtained from 9 local financial institutions at 100 basis points over the Saudi interbank rate.

Yasref operates a 400,000 barrels per day refinery in Saudi Arabia.
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