JEDDAH – – Saudi Aramco this year extended the maturity of two revolving credit facilities it took in 2015, meaning those loans worth a total of $8 billion will be available through March 2022, a bond prospectus showed.
Aramco said on Monday it plans to issue multi-tranche U.S. dollar-denominate bonds, as the world’s largest oil company seeks to raise cash amid weak global oil demand and lower oil prices.
The prospectus showed that in June this year the oil giant amended certain agreements regarding one of the two revolving loans, a $6 billion conventional credit facility, to incorporate a $2 billion ‘swingline’ sub-facility to support the establishment of U.S. commercial paper programme. No debt had been issued under the programme as of Sept.30, the prospectus said.
Swingline loans are aimed to supporting a borrower’s short-term cash management needs.
Aramco had an unused balance of $10 billion under its revolving credit facilities as of end-2019, the document said.
As of Sept.30, Aramco had $135.55 billon in total borrowings, up from $46.82 billion at the end of 2019, the prospectus showed, a jump largely explained by its acquisition of a 70% stake in Saudi Basic Industries Corp (SABIC).
The prospectus also confirmed Aramco took a $10 billion loan in May that was previously reported by Reuters. The loan matures on May 6, 2021, but Aramco has the option to extend it for a year. As of Sept 30, the loan had been fully utilized.
ATHENS, Greece – Greece lifted COVID-19 restrictions on Sunday for foreign and domestic flights, its civil aviation authority said, ahead of the summer tourism season that officials hope will see revenues bouncing back from the pandemic slump. To fly in or out of the country, travellers were previously required to show either a vaccination certificate, … More Greece Lifts COVID Curbs For Travellers Ahead Of Key Summer Season
PARIS, France – Saudi Arabia and Pakistan will discuss the possibility of supporting the kingdom’s $3 billion deposit in Pakistan’s central bank bank by extending its term ‘or through other options’, a joint statement carried by Saudi State News Agency SPA said on Sunday. Last year, Saudi Arabia deposited $3 billion in Pakistan’s central bank … More Saudi, Pakistan To Discuss Possible Support For Kingdom’s $3 Billion Deposit
PARIS, France – Jordan’s King Abdullah returned home on Tuesday from Germany after a successful operation for a slipped disc, the royal palace said. The king flown 10 days ago to a specialist hospital in Frankfurt after suffering severe back pain that required urgent surgery, doctors said.
PARIS, France – Yemen’s president delegated power to a presidential council and dismissed his deputy on Thursday in moves aimed at supporting U.N. – led efforts to revive negotiations to end a bitter seven – year war. Riyadh announced $3 billion in financial aid to the Saudi – backed government after the announcement by President … More Yemen President Cedes Powers To Council As Saudi Arabia Pushes To End War
PARIS, France – Saudi Arabia’s Presidency of State Security warned citizens and residents in the Kingdom against donating to strangers, nothing that such practices increase the probability of financing terrorism. ‘[Random strangers] may be more dangerous than you think’, the Presidency of State Security said in a statement on Twitter, urging people to only make … More Saudi Authorities Warn Against Donating To Strangers Due To Terrorism Financing
PARIS, France – Jordan’s Prince Hamzah Bin Al – Hussein is relinquishing his title of prince, he said in a statement. Prince Hamza, a former heir to the throne, was accused last year of conspiring to destabilize the monarchy in a foreign – inspired plot. Prince Hamzah posted the statement on his official Twitter account, … More Jordan’s Prince Hamzah Relinquishes Royal Title
JEDDAH, Saudi Arabia – Formula One’s Saudi Arabian Grand Prix will go ahead as planned, organizers said on Friday following attacks on a facility owned by oil giant Aramco near the racetrack in Jeddah. Yemen’s Iran – backed Houthis said they launched attacks on Saudi energy facilities on Friday and the Arab coalition said Aramco’s … More Saudi Arabian Grand Prix To Go Ahead As Planned, Say Organizers
PARIS, France – Saudi Arabia has resumed issuing visas on arrival for holders of valid U.S., U.K. and Schengen visas if they qualify for an e – visa, state news agency (SPA) reported on Friday. The decision which allows any of these visa holders to ger a 12 – month tourist visa upon arrival to … More Saudi Arabia Resumes Visa On Arrival For US, UK, Schengen Valid Visa Holders
RIYADH, Saudi Arabia – Yemen’s Houthis said they launched attacks on Saudi energy facilities on Friday and the Saudi – led coalition said oil giant Aramco’s petroleum products distribution station in Jeddah was hit, causing a fire in two storage tanks but no causalities. A huge plume of black smoke could be seen rising over … More Saudi Aramco Storage Facility Targeted By Houthi Attack, Causing Fire
WASHINGTON – The U.S. State Department has approved the potential sale to Bahrain of M270 Multiple Launch Rocket Systems Upgrade and related equipment for an estimated cost of $176 million, the Pentagon said on Thursday. The principal contractor will be Lockheed Martin Corp, the Pentagon’s Defense Security Cooperation Agency said in a news release.
PARIS, France – The French Foreign Ministry has promised 500,000 euros ($548,715) of financing to the International Criminal Court (ICC) to support the investigation into cimes committed in Ukraine, it said in a statement on Wednesday. France will also be providing magistrates, investigators and experts, ‘to make sure the prosecutor can lead his investigation in … More France Promises Funding To International Criminal Court To Investigate Crimes In Ukraine
PARIS, France – In a video message posted to Facebook Wednesday night, Ukrainian President Volodymyr Zelensky addressed Russians and told them, ‘save your sons from the war’. Zelensky said Ukraine had never threatened the security of Russia, adding that Russian propagandists ‘lie about the war, which is paid for by your taxes’. Ukrainians, he said, … More Zelensky Tells Russians: ‘Save Your Sons From The War’
PARIS, France – Russia plans to switch its gas sales to ‘unfriendly’ countries to roubles, President Vladimir Putin said on Wednesday, responding to a freeze on Russia’s assets by foreign nations over events in Ukraine that he said had destroyed Moscow’s trust. European countries’ dependence on Russia gas and other exports has been thrown into … More Putin Says Russia Will Switch Gas Sales To Roubles For ‘Unfriendly’ Countries
PARIS, France – Saudi Arabia said it would not bear responsibility for any shortage in oil supplies to global market in light after recent attacks by Yemen’s Iran – aligned Houthis on Saudi oil facilities, Saudi state news agency (SPA) reported on Monday. The Houthis fires missiles and drones at Saudi energy and water desalination … More Saudi Not Responsible For Any Oil Shortage After Houthi Attacks, SPA Says
PARIS, France – – The Russian invasion of Ukraine could worsen the food crisis in the Middle East and North Africa, the U.S. – based Human Rights Watch (HRW) warned in a statement Monday. ‘Both Ukraine and Russia are leading exports of agricultural products to many Middle Eastern and North African countries, and disruptions related … More Invasion Could Worsen Food Crisis In The Middle East And North Africa, Says Human Rights Watch
RIYADH, Saudi Arabia – The Saudi – led coalition said early on Sunday that Yemen’s Iran – aligned Houthi group launched missile and drone strikes on energy and water desalination facilities in the kingdom that caused some material damage but no deaths. It said the attacks were at a water desalination plant in Al – … More Houthis Launch Attacks On Saudi Energy, Desalination Facilities – Coalition
PARIS, France – Twitter said Wednesday that its interventions against Russian state media have successfully limited the reach of that content, reducing it by 30% on the platform. The announcement follows Twitter’s effort late last month to curb users’ sharing of Russian state media content. At the time, Twitter said that users had been sharing … More Twitter’s Restrictions On Russian State Media Have Successfully Limited Reach Of Content
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