Saudi Arabia said to seek $12b in loans after halting Aramco IPO

Saudi Arabia said to seek $12b in loans after halting Aramco IPO

Attendees walk by a sign for the Saudi Arabian Oil Co. (Aramco) on display inside the King Abdulaziz Center for World Culture during a tour of the project in Dhahran, Saudi Arabia, on Friday, Nov. 25, 2016. Photographer: Simon Dawson/Bloomberg

Saudi Arabia‘s sovereign fund is set to borrow up to $12 billion from international banks after IPO plans for state energy group Saudi Aramco were put on hold, the Financial Times reported, citing sources.

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