Dubai
Saudi Aramco this year extended the maturity of two revolving credit facilities it took in 2015, meaning those loans worth a total of $8 billion will be available through March 2022, a bond prospectus showed.
Aramco said on Monday it plans to issue multi-tranche US dollar-denominated bonds, as the world’s largest oil company seeks to raise cash amid weak global oil demand and lower oil prices.
The prospectus showed that in June this year the oil giant amended certain agreements regarding one of the two revolving loans, a $6 billion conventional credit facility, to incorporate a $2 billion “swingline” sub-facility to support the establishment of a US commercial paper program. No debt had been issued under the program as of Sept. 30, the prospectus said.—Reuters
