* Borrows from 27 banks in dollars and riyals * Deal replaces existing $4 billion loan * Achieves tight pricing between 9 and 12 bps (Adds details, pricing, context) KHOBAR, Saudi Arabia, March 30 (Reuters) - Saudi Aramco , the kingdom's state oil giant, has signed a $10 billion loan with 27 financial institutions, it said on Monday, taking advantage of favourable market conditions to securing better borrowing terms. The statement confirmed a Reuters story from March 12 that said Aramco was close to finalising a tightly-priced deal, which bankers speculate could also be used to fund a bid for a stake in German synthetic rubber firm Lanxess. Aramco's new revolving credit agreement is de**minated in both U.S. dollars and Saudi riyals and is a standby loan, the world's biggest oil exporter said in its statement, meaning the cash will only be taken up when the company needs it.
03-31-2015, 09:36 AM
UPDATE 1-Saudi Aramco says signs $10 billion dual-currency loan
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