FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo
It is at the banks’ discretion whether to extend the loan, but lenders will likely agree in order to maintain a good relationship with Aramco in the hope of receiving future business, LPC said citing a banker.Aramco declined to comment. The loan started at 50 basis points over LIBOR, a rate that steps up as more money is drawn from the facility, one of the sources told Reuters, adding Aramco could try to reduce pricing by 10 to 15 bps.
Sources told Reuters last year that Aramco would use the loan to back its acquisition of a 70% stake in Saudi Basic Industries Corp from Saudi Arabia’s Public Investment Fund, a deal worth almost $70 billion.
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Aramco unable to pay debt? Same happening to Yellen's Treasury? Never? Why? U.S superpower from hell? No default? No limits to debt capacity! Limits only to underclass? Never to upper class? Carl Icahn, Buffett, Bill Gates, Rupert Murdoch? If you poor suck your thumb!
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