Saudi Aramco In Early Talks On Jumbo Debt Deal

Oil and gas giant Saudi Aramco is having preliminary talks with banks about a potential debt financing of up to $70 billion to back its acquisition of a majority stake in Saudi petrochemical firm Sabic, banking sources said on Sept. 5.

Aramco is looking at buying a strategic stake in Sabic, the world’s fourth-biggest petrochemicals company, from Saudi’s Public Investment Fund (PIF), which owns a 70% stake worth around $70 billion.