Saudi Aramco Closes In on $10B Loan With International and Chinese Banks

Saudi Aramco is nearing an agreement on a $10 billion revolving credit facility backed by a syndicate including Bank of China and ICBC. The financing carries an interest margin of 60 basis points over SOFR to reinforce company liquidity. The transaction follows a series of large-scale debt raises by Gulf energy firms involving Chinese financial institutions.

Published October 28, 2026 Source: Rigzone

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Saudi Arabian state-owned energy company Saudi Aramco is nearing an agreement with international financial institutions on a $10 billion revolving credit facility, according to reports by Bloomberg and Rigzone. The consortium arranging the facility includes Chinese state lenders Bank of China Ltd. and Industrial and Commercial Bank of China Ltd., alongside global banks such as Citigroup Inc., HSBC Holdings Plc, JPMorgan Chase & Co., and Mitsubishi UFJ Financial Group.

The financing package is structured to carry an interest margin of 60 basis points over the Secured Overnight Financing Rate (SOFR). People familiar with the matter stated that the agreement is expected to be signed in the coming weeks to reinforce Aramco's balance sheet and operational resilience amid regional logistics disruptions and attacks on its energy infrastructure.

Representatives for Citigroup, HSBC, JPMorgan, Mitsubishi UFJ Financial Group, Standard Chartered, and Aramco declined to comment, while Bank of China and ICBC did not immediately respond to requests for comment. The transaction follows recent regional debt deals, including a $3 billion loan raised by QatarEnergy that was heavily backed by Chinese banks, and a 15.8 billion riyal ($4.1 billion) murabaha facility secured by Saudi Energy Co. in July.