BlackRock beckons investors ahead of Aramco gas pipeline bond sale: sources

BLK) has been in London with investors Hold meetings to spark interest in selling bonds, starting at $1 $400 million loan to support asset management company’s deal to acquire shares200Saudi Aramco (TADAW ​​UL: 50 12) gas pipeline network, two sources said on Tuesday Show. Consortium led by BlackRock agreed to $ signed a $5 billion deal with Aramco last year USD lease-back lease back agreement for investors % stake in the newly formed subsidiary Aramco Gas Pipelines Co, which will lease and lease the rights to use the Aramco gas pipeline network Back to Aramco year. BlackRock held a meeting with investors in London, two sources familiar with the matter said. The world’s largest asset manager also held meetings in Dubai and New York, one of the sources said.

BlackRock held investor meetings on its own, without the help of banks, the second source said. BlackRock and Aramco did not immediately respond to Reuters’ requests for comment. sources said the first bond issue – expected to be the first of several – is expected by the end of the year.

In a similar year, Saudi Aramco struck a deal, $ $4 billion transaction sale

will Its % stake in the oil pipeline company was transferred to a consortium led by US-based EIG Global Energy Partners. Saudi Aramco Pipeline Investors, led by EIG, sold bonds in January, starting at U.S. dollar $800 million loan to back the deal. In a volatile market, they raised $2.5 billion, missing their own target of $350-44 million.

It is now expected that both consortiums will remain in place for longer than previously envisaged time to refinance the loan. They may also explore other refinancing options, such as extending existing loans or taking on new bank debt, the sources said.

(This story was rewritten as the gas (not oil) pipeline in the title) 1000