Aramco raises $10bn loan in one of few sparks in EM loan market
Saudi Aramco has closed a $10bn loan, according to bankers near the deal. The loan — the largest signed in the Middle East so far this year — comes amid a drop in oil prices, which has sent borrowers in the Gulf hunting for financing.
The $10bn loan has a tenor of one year, according to bankers near the deal.
Bankers near the deal told GlobalCapital the deal was priced competitively, relative to “Aramco's credit profile”.First Abu Dhabi Bank, HSBC and SMBC coordinated the deal. BNP Paribas, Citi, Crédit Agricole, JP Morgan, Mizuho, MUFG and Société Générale were ...