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Aramco To Pay $69.1bn SABIC Acquisition In Tranches

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Saudi Aramco intends to pay for its 69.1 billion dollars acquisition of a majority stake in Saudi Basic Industries Corp’s (SABIC) in separate tranches, according to a presentation given by Aramco t…

Saudi Aramco intends to pay for its 69.1 billion dollars acquisition of a majority stake in Saudi Basic

Industries Corp’s in separate tranches, according to a presentation given by Aramco to bond investors that was seen by Reuters. The world’s biggest oil producer intends to pay 50 per cent of the acquisition price at the closing of the SABIC deal, while the remainder will be paid over a two-year period from internal cash generation and, potentially, other sources, according to the document.

Aramco this week will meet global bond investors ahead of its first international bond sale after obtaining its first credit ratings fromThe SABIC acquisition will have no impact on Aramco’s rating, according to the investor presentation.

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