DUBAI, Feb 9 (Reuters) - Investors in Saudi Aramco's gas
pipelines network, led by BlackRock Inc , have begun a
sale of dollar bonds in three tranches to refinance a
multi-billion dollar loan that backed their stake purchase, a
bank document showed.
Initial price guidance was around 240 basis points (bps)
over U.S. Treasuries (UST) for sukuk, or Islamic bonds, with a
weighted average life (WAL) of 7-1/2 years, the document showed.
Guidance was around 275 bps over UST for a tranche with a
12-year WAL and around 305 bps over UST for Formosa bonds with
an 18-year WAL. The deal is expected to price late on Thursday.
(Reporting by Yousef Saba; editing by Jason Neely)
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