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Financials

RLPC-Saudi Aramco seeks $3 bln refinancing-bankers

LONDON, Sept 15 (Reuters) State-owned oil company Saudi Aramco is seeking a $3 billion syndicated loan to refinance an existing $4 billion loan, three bankers said on Wednesday.

Aramco’s existing revolving credit facility was arranged by BNP Paribas, HSBC, JP Morgan and Riyad Bank in November 2006, according to Thomson Reuters LPC data.

That deal comprised a $3 billion, five-year tranche and a $1 billion, one-year tranche that included extension options for up to five years.

Aramco regularly taps the syndicated loan market for project finance loans, and the new deal is a rare foray into the corporate loan market. (Reporting by Ouida Taaffe; writing by Alasdair Reilly; Editing by Will Waterman)

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