U.K., Wooing Saudi Aramco IPO, Offers $2 Billion Loan Guarantee - Bloomberg:
"The U.K. government agreed to a $2 billion loan guarantee for Saudi Arabian Oil Co. as Britain and the U.S. compete to host the state-run energy giant’s proposed initial public offering, likely to be the largest in history. The unusually large export credit guarantee, designed to finance the purchase of British goods, will be seen by many as an attempt to help woo the IPO to the London Stock Exchange, the most viable venue for the international portion of the sale aside from New York. On Saturday, President Donald Trump said it a tweet that he’d love to see Aramco comes to the U.S.. A former senior official at the U.K. Treasury criticized the deal as an affront to free markets. The government “guaranteeing a loan to Aramco would be a further lurch in descent to mercantilism,” Nicholas MacPherson, who was the most senior non-elected official at Britain’s finance ministry until 2016, said on Twitter. He finished the tweet with the hashtag #stateaid."
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