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Consortium gets $13.4B in financing Aramco gas deal - report

The consortium that is buying a 49% stake in Aramco Gas Pipeline Company for $15.5 billion has struck an agreement with 19 banks on $13.4 billion to finance the deal, Al Arabiya reported on Sunday.

The list of banks that will help finance the deal includes HSBC Holdings plc, JPMorgan Chase & Co., BNP Paribas S.A., Standard Chartered plc, Societe Generale S.A., Credit Agricole Group, Citibank, Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc., Industrial and Commercial Bank of China Limited, Agricultural Bank of China, the Bank of China, China Construction Bank, Riyad Bank, First Abu Dhabi Bank PJSC and Abu Dhabi Commercial Bank PJSC, according to unnamed sources briefed on the plans.

The financing will cover a seven-year period, it was noted in the report.

Baha Breaking News (BBN) / MS