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FILE PHOTO: General view of Aramco tanks and oil pipe at Saudi Aramco's Ras Tanura oil refinery and oil terminal

STOCK MARKET: EIG-led investors in Aramco oil pipelines hire banks for dual-tranche bonds



FILE PHOTO: General view of Aramco tanks and oil pipe at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah

January 10, 2022

DUBAI (Reuters) – EIG Pearl Holdings, owned by investors in Saudi Aramco’s oil pipelines network, has hired Citi and JPMorgan to arrange investor calls for the sale of dual-tranche U.S. dollar-denominated amortising bonds, a document showed on Monday.

EIG Pearl Holdings, the issuer, is 89.45% indirectly owned by an “aggregator vehicle” managed by EIG Management Company LLC and its affiliates and 10.55% owned by a subsidiary of Abu Dhabi sovereign wealth fund Mubadala Investment Company.

The issuer owns 49% of Aramco Oil Pipelines Company, a newly created entity in which Saudi Aramco holds the remaining 51% stake. In June, Aramco Oil Pipelines Company and Aramco entered into a 25-year lease and leaseback arrangement for Aramco’s current and future network of pipelines used to transport stabilised crude in Saudi Arabia.

Other banks involved in the deal are: BNP Paribas, First Abu Dhabi Bank, HSBC, Mizuho, MUFG, SMBC Nikko, Abu Dhabi Commercial Bank, Bank of China, Credit Agricole CIB, Standard Chartered, Agricultural Bank of China, BofA Securities, EIG Capital Markets, ICBC, IMI-Intesa Sanpaolo, Natixis, Riyad Capital and Societe Generale.

(Reporting by Yousef Saba; Editing by Susan Fenton)





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