2011-10-10 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: Saudi Aramco Total Refining and Petrochemical Company's (SATORP) Islamic bond, or sukuk was 3.5 times oversubscribed, making the final offering size of $1bn, Dow Jones Newswire reported. The floating rate sukuk will have a tenor of about 14 years, the firm said in a statement. It was offered at six-month Saudi interbank offered rate, or SAIBOR, plus 95 basis points. The refinery was projected to cost about $14bn to construct capable of carrying 400,000 barrels per day exports. This is expected to be completed and active by the end of 2013.  

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