Aramco pipeline investors raise $2.5 billion from bond sale

Aramco pipeline investors raise $2.5 billion from bond sale
Aramco pipeline investors raise $2.5 billion from bond sale

A banking document seen by Reuters showed that AIG Alliance EIG, which last year acquired a stake in Saudi ’s pipeline network, raised $2.5 billion from the sale of two-tranche bonds.

The final spreads were unchanged from the indicative prices as the deal attracted orders of about five billion dollars.

And a banking document had shown earlier, that the group seeks through EIG Pearl to raise between 3.5 billion and 4.4 billion dollars.

The document showed that the initial indicative price is about 185 basis points above the US Treasury bonds for the segment due between 14 and a half years to 15 years, and about 235 points for bonds with a term of 24 and a half to 25 years.

EIG Pearl Holdings, owned by a group of investors led by EIG Global Energy Partners, the company that has acquired a 49% stake in Aramco’s oil pipeline network, has appointed Citibank and JPMorgan to arrange the dollar bond issue.

The issuance comes with the aim of partially refinancing the $10.8 billion credit facility that was used to fund EIG Global Energy Partners’ purchase of a 49% stake in Aramco’s oil pipeline network last June.

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