Crédit Agricole CIB achieved this award, thanks to its key role in the financing for the “Saudi Aramco Total Refining and Petrochemical Company” (SATORP), the project company that will develop and operate a greenfield refinery in Jubail, Saudi Arabia.

Crédit Agricole CIB acted as:

• Financial advisor (together with Banque Saudi Fransi): Project finance advisory and Islamic banking worked very closely for over four years in a Financial advisor capacity to both Aramco and Total to bring this transaction to a successful close.
• Islamic documentation bank: Crédit Agricole CIB was involved in the review and negotiation of the Islamic facility documents with the sponsors on behalf of the Islamic facility participants.
• Mandated lead arranger/Underwriter/Bookrunner: from the beginning Crédit Agricole CIB was mandated for these roles.

This is an important landmark transaction for the region with the largest number of financing facilities in any one project financing.

The key criteria for the awards are: innovation, quantity and quality, cross border and promoting the growth of the sector.