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Exclusive: Saudi Aramco working to raise cheap loans before IPO - banking sources

Reuters  |  DUBAI 

By Davide Barbuscia and Tom ArnoldDUBAI (Reuters) - Saudi Aramco is working to secure billions of dollars in cheap loans from banks seeking to strengthen their ties with the oil giant before its stock listing, banking and export credit agency (ECA) sources said. Citigroup (Citi), Standard Chartered and Sumitomo Mitsui Banking Corporation were advising on the transactions, which two sources said could raise at least $5 billion to $6 billion, all with ECA-backing.The bid to raise funds is the latest indication of Saudi Arabia's push to ensure what could be the world's biggest initial public ...

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First Published: Wed, January 10 2018. 16:32 IST