Consortium to buy Saudi Aramco’s gas pipeline seeks $14.7bln loan: CNBC Arabia

The source revealed to CNBC Arabia that the consortium sought to take advantage of current low financing rates. The loan will last for seven year

  
Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. Image used for illustrative purpose.

Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. Image used for illustrative purpose.

REUTERS/Maxim Shemetov
JEDDAH: The consortium for Saudi Aramco’s largest energy infrastructure deal, is looking to obtain a $14.7 billion loan.

The source revealed to CNBC Arabia that the consortium sought to take advantage of current low financing rates. The loan will last for seven years.

Saudi Aramco signed on Dec. 6 a $15.5 billion leaseback deal involving its gas pipeline network with a consortium led by investment giant BlackRock and Hassana Investment Co.

Hassana sits within the General Organization for Social Insurance and is the Saudi government’s new fund established to invest in stock markets regionally, globally as well as leading real estate ventures, commercial and service projects.

Aramco will hold a 51 percent majority stake in the new subsidiary for the project, Aramco Gas Pipeline Company, with the remaining 49 percent stake held by investors led by BlackRock and Hassana.

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