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ARTICLE · 08 MARCH 2023

We Assisted BlackRock With Its 11.5 Billion GMTN Programme And 1.5 Billion Islamic Financing

Loyens & Loeff
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In 2021, GreenSaif Pipelines Bidco S.à r.l. (GreenSaif), a Luxembourg entity owned by BlackRock, entered into a bridge facility to acquire 49% of Aramco Gas Pipelines Company...

LuxembourgFinance and Banking
Anne-Marie Nicolas
Anne-Marie Nicolas
Willem Bon
Willem Bon
Siobhán McCarthy
Siobhán McCarthy
Noémi Gémesi
Noémi Gémesi
Ignacio Jiménez Guardiola
Ignacio Jiménez Guardiola
Kévin Emeraux
Kévin Emeraux
Jérôme Jacques
Jérôme Jacques
Marine Kricq
Marine Kricq
Enxhi Basho
Enxhi Basho
+2 more

Loyens & Loeff assisted BlackRock with a USD 1.5 billion landmark sukuk issuance and a USD 3 billion issuance of notes under a newly established USD 11.5 billion GMTN programme.

In 2021, GreenSaif Pipelines Bidco S.à r.l. (GreenSaif), a Luxembourg entity owned by BlackRock, entered into a bridge facility to acquire 49% of Aramco Gas Pipelines Company, a subsidiary of Saudi Arabian Oil Company (Saudi Aramco) and is now entitled to 20 years of tariff payments for natural gas transported through Saudi Aramco's gas pipeline network.

In the context of the refinancing of the acquisition, Loyens & Loeff Luxembourg assisted BlackRock with a USD 1.5 billion first-of-a-kind issuance of sukuk certificates and the establishment of a USD 11.5 billion global medium term note programme under which two series of notes (including a series of Taipei Exchange-listed Formosa notes) were issued, for an aggregate amount of USD 3 billion.

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