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DUBAI: A group of institutional investors that last year took a stake in Saudi Aramco's oil pipelines network is expected to raise between $3.5 billion and $4.4 billion via a sale of dual-tranche amortising bonds on Thursday, a bank document showed.

Initial price guidance was around 185 basis points (bps) over US Treasuries (UST) for a tranche due in between 14-1/2 and 15 years and around 235 bps over UST for paper maturing in 24-1/2 to 25 years, the document from one of the banks on the deal showed.

The tranches will have a weighted average life of 10.2 to 10.7 years and between 23-1/2 and 24 years, respectively.

Saudi Aramco, BlackRock sign $15.5bn gas pipeline deal

Citi and JPMorgan are coordinating the deal, which 18 other banks are also involved and is expected to launch later on Thursday.

It has hired Citi and JPMorgan to help refinance a loan that backed the deal, bank documents and an investor presentation showed on Monday.

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