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EIG-led investors in Aramco oil pipelines hire banks for dual-tranche bonds -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – General view of Aramco tank and oil pipeline at Saudi Aramco’s Ras Tanura oil refinry and terminal in Saudi Arabia, May 21 2018. REUTERS/Ahmed Jadallah

DUBAI, (Reuters) – EIG Pearl Holdings was founded by investors in Saudi Aramco Citi and JPMorgan have been hired by the oil pipelines network of (SE:), to organize investor calls for dual-tranche U.S. Dollar-denominated amortising bond sales, according to a Monday document.

EIG Pearl Holdings is the issuer. It has 89.45% indirect ownership by EIG Management Company LLC, its affiliates, and 10.55% by Mubadala Investment Company, a subsidiary from Abu Dhabi’s sovereign wealth fund Mubadala Investment Company.

Saudi Aramco is the remaining 51% shareholder in Aramco Oil Pipelines Company. The 49% owned by issuers owns Aramco Oil Pipelines Company. Aramco Oil Pipelines Company and Aramco signed a 25-year lease agreement and leaseback arrangement to Aramco’s future and current network of pipelines that are used for transporting Saudi Arabia’s stabilised crude.

The deal also involved other banks: BNP Paribas, First Abu Dhabi Bank (OTC) HSBC and Mizuho as well as First Abu Dhabi Bank (OTC). Agricultural Bank of China is (OTC). BofA Securities, EIG Capital Markets. ICBC, IMI–Intesa Sanpaolo. Natixis. Riyad Capital, Societe Generale are (OTC).

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