A consortium of investors reached an agreement on a $13.4 billion financing with 19 banks to fund the purchase of a stake in Saudi Aramco’s gas pipelines, Al Arabiya reported, citing banking sources familiar with the matter.
The 19 banks involved in providing the financing includes HSBC, JP Morgan, BNP Paribas, Standard Chartered, Societe Generale, Credit Agricole, Citibank, Japan's Mizuho Group, as well as MUFG and ICBC.
Gulf banks such as Riyad Bank, First Abu Dhabi Bank and Abu Dhabi Commercial Bank are participating in the financing process, in addition to 3 Chinese banks, namely the Agricultural Bank of China, the Bank of China and the China Construction Bank, according to Al Arabiya.
Last month, Aramco closed a deal to sell a stake in its natural-gas pipelines for $15.5 billion to an investor group led by BlackRock Inc. who acquired a 49% stake in Aramco Gas Pipelines Co. in December.
