Dubai: A consortium of investors reached an agreement on a $13.4 billion financing with banks to fund the purchase of a stake in Saudi Aramco's gas pipelines, Al Arabiya reported.
The consortium led by BlackRock Real Assets (BlackRock) and Hassana Investment Company (Hassana), the investment management arm of the General Organization for Social Insurance (GOSI) in Saudi Arabia won the $15.5 billion lease and leaseback deal involving its gas pipeline network of Saudi Aramco in December 2021.
The financing banking consortium include HSBC, JP Morgan, BNP Paribas, Societe Genarale, Citibank, Credit Agricole, First Abu Dhabi Bank among a total of 19 banks.
The pipeline represents a significant progress in Aramco’s asset optimization programme and is the second such infrastructure transaction by Aramco last year after the closing of the oil pipeline infrastructure deal earlier in June 2021.
