Aug 22 2011 |
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SATORP - Sukuk Press Release
The Capital Market Authority (CMA)'s Board has issued its resolution number 2-25-2011 on 14/9/1432H [14/8/2011G] approving the public offering of sukuk certificates (the "Sukuk") by Arabian Aramco Total Services Company ("AATSC"), a company especially established for the purpose of issuing the Sukuk on behalf of SAUDI ARAMCO TOTAL Refining and Petrochemical Company ("SATORP"). The total offering size will be determined at a later stage by SATORP.SATORP has appointed Deutsche Securities Saudi Arabia ; Samba Capital & Investment Management Company ; and Saudi Fransi Capital as Joint Lead Managers and Joint Bookrunners.
Investor communication for the offering and the offering period will commence on Saturday, 12/10/1432H [10/09/2011G] and last for a period of sixteen (16) working days, with a group event roadshow on Tuesday 15/10/1432H [13/9/2011G].
The Sukuk will be the first Shariah compliant project sukuk instrument in the Kingdom of Saudi Arabia (the "Kingdom"). The Shariah structure of the Sukuk has been approved by the Shariah Boards of Al Inma Investment Company , Bank Al-Bilad, Deutsche Bank , Samba Financial Group and Credit Agricole CIB.
(www.db.com/mena, www.sambacapital.com and www.fransicapital.com.sa)
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© Press Release 2011
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