Cost of CapitalData
Aramco Closes USD 10 Billion Revolving Credit at 60bp Over SOFR
Six-bank consortium to provide facility expected to close within weeks, following USD 10 billion 2024 agreement.
Saudi Aramco is closing a USD 10 billion revolving credit facility with a consortium of six international banks, priced at 60 basis points over the Secured Overnight Financing Rate. The agreement is expected to be signed within weeks, according to Bloomberg. The facility provides access to funds as needed rather than a single disbursement.
Six-Bank Consortium Arranges Facility#
The lenders include Bank of China, Citigroup, HSBC, Industrial and Commercial Bank of China, JPMorgan Chase and Mitsubishi UFJ Financial Group. The pricing of 60 basis points over SOFR establishes the cost of borrowing for the facility. The structure is a revolving credit agreement, allowing the borrower to draw, repay and redraw funds up to the USD 10 billion limit during the facility term. The final terms and participating lenders will be confirmed at signing.
2024 Facility Comprised Two Tranches#
Aramco signed a previous revolving credit agreement in 2024 totalling USD 10 billion across two tranches. The first tranche of USD 7 billion was arranged by US, European and Asian lenders. The second tranche of USD 3 billion was structured as a Shariah-compliant murabaha facility funded by regional banks. The new facility follows that structure in providing access to international debt markets.
Gulf Energy Companies Access Debt Markets#
QatarEnergy secured a USD 3 billion loan primarily from Chinese banks in October 2026. Saudi Energy Company raised SAR 15.8 billion, equivalent to approximately USD 4.1 billion, through Shariah-compliant murabaha financing from seven Gulf banks in July 2026. These transactions demonstrate the range of financing sources available to energy companies in the region, from international banking groups to regional lenders. The expected signing of Aramco's facility will confirm the final terms and close the transaction.
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- waya.mediawaya.mediaUSD 10 billion revolving credit facility, 60bp over SOFR, six-bank consortium, expected signing within weeks, 2024 facility structure and tranches, QatarEnergy and Saudi Energy Company comparables
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