Banque Saudi Fransi (BSF) was one of the local and international relationship banks invited to participate in the recent Saudi Aramco’s flagship $10 billion revolving facilities.

The financing was structured as a $7 billion tranche and a $3 billion Islamic loan in Saudi riyals revolving credits. Out of total facilities, $2 billion matures after one year while the remaining $8 billion has a five-year maturity.

This financing has replaced Saudi Aramco’s existing $4 billion credit facilities and is part of the company’s strategy to efficiently manage its operations. This will support Aramco’s ambitious plans to expand its oil and gas production steadily through maintenance/upgrading existing and development of new fields of mega sizes.

Based on the relationship BSF enjoys as one of the core Saudi banks supporting Saudi Aramco and its subsidiaries through cash management, treasury products, and retail services, BSF has participated for an amount of SR1.50 billion in the Saudi riyal Islamic Loan tranche.