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FinancialNews


  • 19-12-17

    Saudi Aramco appoints Citi to lead $2 billion financing

    (MENAFN) US investment bank Citi has been reportedly hired by Saudi Aramco to direct a UK-backed $2 billion loan.

    Sources said that the loan mandate wouldn't be mainly beneficial, it's more like banks perceive it as one approach to get closer to secure work on the initial publish share proposal planned by Aramco and is likely to value the company at $2 trillion.

    One source at a European export credit agency in the Middle East claimed "banks look at these kinds of operations for relationship purposes. This kind of loan is a bit of a test that Aramco makes on the market and given the name, there's high competition among banks."

    MENAFN1912201700450000ID1096248663

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