Saudi Aramco taps banks for $12-14 bln gas pipeline loan – sources

Saudi Aramco has asked banks to arrange a loan expected to be in the $12 billion to $14 billion range that it plans to offer to buyers of its gas pipeline network. Potential buyers are expected to submit bids at the end of October, said one of the sources. Sources have also previously said Aramco could raise at least $17 billion from the sale of a significant minority stake in its gas pipelines. And a previous deal, which included all of Aramco’s existing and future stabilized crude pipelines, was backed by $10.5 billion financing from a large group of banks including Citi, HSBC and JPMorgan.