FRANCE - SUKUK - Saudi Aramco and France's Total ink $1b Sukuk for Jubail JV

JEDDAH - Saudi Aramco and France's Total will launch $1 billion Islamic bond (Sukuk) in the Q4 to build 400,000 barrels per day crude refinery in Jubail.

Simon Eedle, global head of Islamic banking at Credit Agricole, said the long delayed $1 billion Sukuk which was part of the financing for the Jubail refinery will launch in the Q4. Credit Agricole, Deutsche Bank and Samba Financial Group are the lead arrangers for the Sukuk.