Satorp refinancing talks underway

Saudi Aramco is in talks with banks to refinance $2.2 billion of the 16-year uncovered debt arranged in 2010 for its Satorp Refinery project joint venture with Total. SMBC and Riyad Bank are advising on the talks. Pricing on the 2010 international bank tranche was 150-160bp over Libor and 125bp for...