KHOBAR: Saudi Aramco could sign a $4 billion two-part revolver loan with banks next week, IFR Markets, a unit of Thomson Reuters, said on Tuesday quoting banking sources. Banks are getting approvals from credit committees for the deal, split between a one-year facility which can be extended four times - effectively a five-year term - and a five-year piece, IFR said. For the one-year piece, the pricing for dollar funding is 13 basis points over LIBOR. As for the five-year piece, the pricing would be 18 basis points over LIBOR. The deal could be oversubscribed despite the extremely tight pricing on offer, IFR said. The deal refinances a facility of the same amount that was signed in 2006. It was split between a $1 billion one-year piece, which had the same extension option as the new loan, and a $3 billion five-year tranche. The margin was 16 basis points. It was heavily oversubscribed. BNP Paribas, HSBC, JP Morgan and Riyad Bank were mandated lead arrangers on the deal, IFR said.
