Aramco seeking US$2b loan from Japan's export agency: sources

Dubai

SAUDI Arabian Oil is seeking a US$2 billion loan from Japan's export-credit agency, three people with knowledge of the matter said, as competition for a role in potentially the world's largest initial share offering heats up.

The Japan Bank for International Cooperation is weighing the loan facility but a final agreement has yet to be reached, the people said, asking not to be identified because the discussions are private. A deal would make the Japanese export-credit agency the second state institution to extend financing to Aramco ahead of its planned initial public offering (IPO) - which the Saudi government has said may value the company at US$2 trillion.