Air Products, ACWA, Aramco JV raising debt to fund purchase of assets - Reuters

Air Products, ACWA, Aramco JV raising debt to fund purchase of assets - Reuters:

A joint venture between U.S.-based Air Products (APD.N), Saudi Arabia’s ACWA Power and Saudi Aramco (IPO-ARMO.SE) is raising debt to help finance the purchase of assets worth $11.5 billion by the end of the year, an ACWA Power spokeswoman told Reuters.

The joint venture is in advanced stages of talks with lenders, the spokeswoman said. 

The companies had signed an agreement for a gasification/power joint venture in August 2018, to serve Aramco’s Jazan Refinery and terminal.