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Aramco to borrow about $10 billion from banks
April 15, 2020
Source: Reuters

Aramco to borrow about $10 billion from banks

Saudi Aramco is planning for a loan of about $10 billion. The world's largest oil producer is in early talks with 3 banks to help finance its acquisition of Saudi Basic Industries Corp. It will acquire 70% stakes in the firm. “The company continues to review its financial options as part of its normal course of business, while prudently preserving its pristine balance sheet and its resilience”, said the company.

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