Saudi Aramco Taps Banks for $12 to $14 Billion Gas Pipeline Loan

A few months ago, several companies were in talks for Aramco's gas pipeline assets including Singapore sovereign wealth fund GIC and Chinese state-backed investment fund CNIC Corp.

Hadeel Al Sayegh, Davide Barbuscia and Saeed Azhar, Reuters

Saudi Aramco has asked banks to arrange a loan expected to be in the $12 billion to $14 billion range that it plans to offer to buyers of its gas pipeline network, sources said, as the oil giant advances plans to raise funds from asset sales.

Aramco could raise at least $17 billion from the sale of a significant minority stake in its gas pipelines, sources have previously told Reuters. The stake would be offered with a loan financing package already in place, worth about 80% of the price.

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