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Saudi working with HSBC, JPMorgan and others to refinance its $10 bn loan

Saudi Arabia approached banks last month with requests for proposals to refinance its $10 billion loan

Reuters  |  Dubai 

Saudi Arabia is working with HSBC, JPMorgan and Mitsubishi UFJ Financial Group on the refinancing of its existing $10 billion syndicated loan, said banking sources familiar with the matter. The three lenders have a leading role in the refinancing, which will involve a much larger group of banks. Loan syndication is expected to be completed by mid-February, said the sources. A spokesman for the Saudi debt management office said: "The DMO is coordinating this transaction directly with all financial institutions and it would be inappropriate to comment further whilst ...

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First Published: Tue, February 06 2018. 21:30 IST