Aramco Could Stagger Payments for Sabic Deal, Oil Minister Says - Bloomberg:
Saudi Aramco could stagger payments for the acquisition of chemical giant Sabic, offering flexibility in how to finance the largest deal in the kingdom’s history, energy minister Khalid Al-Falih said.
Aramco is close to agreeing on the purchase of a 70 percent stake in Sabic from the Public Investment Fund for as much as $70 billion. The state-run oil company carries almost no debt, but plans an unprecedented international bond issue in the second-quarter and has also asked banks to submit proposals for loans.
"We are negotiating with the PIF on what are the payment terms," Al-Falih, who’s also Aramco’s chairman, said in an interview in Riyadh on Monday. "If the payment terms are extended over a period of time that allows us to pay for a lot of it with self-generated cash."
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