trending Market Intelligence /marketintelligence/en/news-insights/trending/wqj_gujgcon1jtikj94y7g2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Saudi Aramco eyeing up to $70B in debt financing to fund potential deal

Blog

So, the data lakehouse is now officially a ‘thing’ – what is it and why should you care?

Blog

Industry Top Trends 2021: Oil and Gas

Blog

Charter, DIRECTV and Comcast rank as the top 'RSN-friendly' MVPDs

Industry Top Trends 2021: Metals and Mining


Saudi Aramco eyeing up to $70B in debt financing to fund potential deal

Bankers are discussing to provide up to $70 billion of jumbo financing to help Saudi Arabian Oil Co. fund its potential acquisition of a majority stake in petrochemicals company Saudi Basic Industries Corp., or SABIC, Reuters reported, citing sources familiar with the development.

The state energy company, which is likely to buy 70% stake in SABIC, has not yet requested proposals for external debt financing, which could be loans or bonds. Armaco is likely to acquire all of the 70% stake owned by Saudi Arabia's top sovereign wealth fund, Public Investment Fund, or PIF.

JPMorgan Chase & Co. and Morgan Stanley are working as the financial advisers in connection with the deal, according to the report.