SEPC, the Saudi Ethylene & Polyethylene Company, has successfully completed the signing of a long-term Murabaha Refinancing Facility Agreement with Islamic Shariah with eight local banks in addition to one regional bank for a total amount of SAR 4.8 billion.

The company was formed to develop, finance, construct and operate a petrochemical complex for the production of 284,800 tonnes per annum of propylene and 1,008,000 tonnes per annum of ethylene. Approximately 80% of this production will be used as the primary feed stock for the production of around 800,000 tonnes per annum of high and low density polyethylene.

The SEPC Plant is located in Jubail Industrial City in the eastern region of Saudi Arabia and commenced operations in June 2009.

Operis was pleased to be appointed by SEPC to provide model audit services on the refinancing model, which included a review of the model’s tax and accounting treatments, and a review of the transaction’s Islamic finance documentation.

Share now

CONTACT US

Please get in touch with either of our regional offices.

https://www.operis.com/wp-content/uploads/2021/01/Erwan-Fournis-500x500.png
Erwan Fournis
Global Head of Financial Advisory

+44 207 562 0444

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/05/Carmen-Wade-500x500.jpg
Carmen Wade
Financial Advisory, Head of North America

+1 647 243 3840

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/03/Jun-Tao-500x500.png
Jun Tao
Global Head of Model Audit & Financial Modelling

+44 207 562 0428

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/04/Michael-Jarman-1.jpg
Michael Jarman
Head of Modelling

+1 647 243 8016

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/05/Philip-Allen-500x500.jpg
Philip Allen
Head of Training [javascript protected email address]

Operis Europe

View Google Map
+44 207 562 0400
[javascript protected email address]

Operis North America

View Google Map
+1 647 846 7382
[javascript protected email address]

CONTACT US

Discuss your requirements with us

https://www.operis.com/wp-content/uploads/2021/01/Erwan-Fournis-500x500.png
Erwan Fournis
Global Head of Financial Advisory

+44 207 562 0444

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/03/Chirs-Aldred-500x500.png
Chris Aldred
Director

+44 207 562 0433

[javascript protected email address]
Name(Required)
Consent(Required)
This field is for validation purposes and should be left unchanged.