SAUDI ARAMCO is expected to refinance a US$10bn-equivalent revolving credit facility that was signed in March 2015. The deal is expected to launch later this year, most likely in the second half, and would be Aramco's third foray into the loan market in 2021. In February it agreed to extend a US$10bn one-year term loan by 12 months to May 2022, while it is also in the process of finalising a US$10bn staple financing, which it is offering to investors looking to lease its pipelines. Aramco is being advised by JP Morgan and MUFG on the staple financing and sent out request for proposals to banks last month.
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