January 24, 2019 / 7:08 AM / 4 months ago

Aramco seeks advisers for SABIC debt financing - sources

DUBAI, Jan 24 (Reuters) - Saudi Aramco is seeking advisers to arrange debt financing needed for the acquisition of a stake in Saudi Arabian Basic Industries Corp (SABIC), banking sources familiar with the matter said on Thursday.

Aramco did not immediately respond to a request for comment.

One of the sources said banks were expected to submit proposals for the financing by Monday.

The Saudi oil group could borrow as much as $50 billion from international investors to fund the acquisition, sources previously told Reuters. (Reporting by Davide Barbuscia and Hadeel Al Sayegh. Editing by Jane Merriman)

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