‘Aramco has picked banks for debt sale’

DUBAI: Saudi Aramco has selected banks to arrange its first international debt sale, which will help it finance the acquisition of a stake in Saudi Arabian Basic Industries

Corp (Sabic), said a source. The banks include JPMorgan, Morgan Stanley, Citi and HSBC , said the source, with JPMorgan and Morgan Stanley working as “joint global coordinators”. Aramco planned to issue its first global bonds worth US$10 billion (RM40.6 billion) in the second quarter, said Saudi Energy Minister Khalid al-Falih.