The banks joining the deal are understood to include: ABN, Arab Bank, Arab Banking Corporation, Arab Petroleum Investments Corporation (Apicorp), Banque Saudi Fransi, BNP Paribas, Bank of Tokyo-Mitsubishi, Citigroup, Fortis Bank, Gulf International Bank, HSBC with SABB, ING Bank, Islamic Development Bank, Mizuho Financial Group, Samba Financial Group, SHB, Sumitomo-Mitsui Banking Corporation, The National Commercial Bank and Standard Chartered Bank.

The financing package consists of a $1,800 million commercial tranche, split between Islamic and conventional portions, a $500 million tranche covered by Italy’s Sace and a $100 million tranche covered by the UK’s Export Credit Guarantee Department (ECGD). The Public Investment Fund will also extend a $1,000 million loan. The tenor is 12 years.

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