The sources say that the Blackrock -led Blackrock Group is in talks to raise about $ 10.3 billion for Aramco deal

By hadeel Al Sayegh, Federico MacCioni and Yousef SABA

DUBAI (Reuters) – A group of investors, led by global infrastructure partners in Blackrock, are holding talks with lenders to secure up to $ 10.3 billion in financing the Aramco deal at Jafurah Infrastructure, and two exporters with direct knowledge of Reuters.

The two sources said that banks including JPMorgan and Sumitomo Mitsui Banking Corporation are talking talks to participate in the deal.

Debt financing will be divided into two parts, a short -term loan and a long -term loan, people said, which rejects his name because it is not a year. Aramco, Blackrock, JPM and SMBC refused to comment.

According to this deal, a newly formed subsidiary, JMGC, will rented development and use of gas treatment facilities on the development of Jaara gas and its rental to Aramco for 20 years.

Aramco, the world’s largest oil company, will retain a 51 % stake in JMGC, with 49 % remaining by a group of investors.

Sources told Reuters, after issuing $ 5 billion in bonds in May, the company could collect between $ 3 billion and 4 billion dollars in the sale of Islamic bonds. More than $ 16.5 billion in requests on SUKUK were attracted on Wednesday, which is expected to be priced later in the day.

The deal also reflects the broader Saudi energy strategy. By removing crude oil to generate home energy, there will be more barrels available for export, as intermediate materials for petrochemical, and for energy -emerging sectors such as artificial intelligence Data centers.

The two sources said that the GIP Federation pumps about $ 1.8 billion of their own money.

One of the sources said that approximately three quarters of debt financing will have a period of seven years – and it can be re -funded through bonds – and the rest will be due within 19 years.

The source added that Chinese banks showed interest in helping to finance the short term. A third source told Reuters that Goldman Sachs, City, Mizuho and MUFG have also indicated their interest in participating in financing.

Citi, MUFG and Goldman Sachs refused to comment, while Mizuho did not immediately respond to a request for comment.

The structure is similar to the deals conducted by ARAMCO in 2021 and 2022 to the networks of oil and gas pipelines.

The Jafurah field, which is estimated to contain 229 trillion standard cubic feet of raw gas, is the largest gas -related development in the Kingdom of Saudi Arabia and the foundation stone for the Aramco plan to enhance gas production by 60 % by 2030 of 2021 levels.