BlackRock-led investors in Aramco pipelines get ratings ahead of debt sales | Reuters
Ratings agencies have assigned grades to the planned debt sale by investors in Saudi Aramco's gas pipelines network, led by BlackRock Inc (BLK.N), looking to refinance a multi-billion dollar loan that backed their stake purchase.
The refinancing will be done by issuing amortising bonds and sukuk, or Islamic bonds, ratings agencies said.
The consortium, which includes state-backed Hassana Investment Co., agreed to a $15.5 billion lease-and-leaseback agreement with Aramco in late 2021, which gives the investors a 49% stake in Aramco Gas Pipelines Co.
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