Oil giant Saudi Aramco is seeking a loan of about $7.5 billion for potential investors in its oil pipelines, Bloomberg reported, citing sources familiar with the matter.
The company has begun talks with lenders to secure favorable terms for the funding package that would then be offered to investors, the sources said.
The discussions are occurring in parallel with the sale of a stake in a pipeline unit, which could raise about $10 billion for Aramco.
A pipeline deal would be the first phase of Aramco’s strategy to raise money by selling leasing rights or stakes in non-core assets.
According to the data compiled by Argaam, Aramco has recently commissioned Moelis & Co. to sell a stake in its pipeline business.
Aramco seeks to raise around $10 billion (SAR 37.5 billion) from the planned stake sale.
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