Aramco seeks $2 bln loan from Japan's export agency: report

Saudi Arabian Oil Co. (Saudi Aramco), the world’s largest oil exporter, is reportedly seeking a $2 billion loan from Japan’s export-credit agency, Bloomberg reported on Tuesday, citing sources familiar with the matter.

The Japan Bank for International Cooperation is considering the loan facility but a final agreement has not been reached,, the sources said.

The 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) this year, expected to raise $100 billion.

In November last year, the UK government agreed to offer a $2 billion loan guarantee for Aramco designed to finance the purchase of British goods and services.

London and Tokyo are both among several global bourses vying for the lucrative listing of Aramco, widely expected to the world’s largest ever. Other exchanges in the running include New York, Toronto, Hong Kong, and Singapore.