Saudi Aramco and France’s Total will sell Islamic bonds worth $1 billion, Reuters reports. The sukuk, to be issued by Saudi Aramco Total Refining and Petrochemical Co. will help finance the Jubail refinery project. The company, which got the regulatory approval for the issue in August, will confirm the final pricing by the end of this month. Deutsche Securities Saudi Arabia, Samba Capital and Saudi Fransi Capital are joint lead managers and book runners for the sale process.
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