Related Issuers
by Chris Reich
Jul 16, 2024 7:36 AM ET
GreenSaif Pipelines Bidco S.a r.l. (the "Issuer") has mandated J.P. Morgan and Standard Chartered Bank as Global Coordinators to organise a series of fixed income investor meetings commencing on July 16, 2024.
The Issuer is indirectly owned 77.2% by an aggregator vehicle managed and controlled by BlackRock, Inc. and its affiliates (“BlackRock”) and 22.8% by Hassana Investment Company, the investment arm of General Organization of Social Insurance ("GOSI") in the Kingdom of Saudi Arabia (the “Kingdom”). The aggregator vehicle includes leading institutional and sovereign wealth fund investors from Europe, the Middle East and Asia. The Issuer owns a 49.0% shareholding in Aramco Gas Pipelines Company ("AssetCo") and Saudi Arabian Oil Company ("Aramco") owns the remaining 51% of the issued share capital of AssetCo.
AssetCo holds, for a period of 20 years, usage rights over Aramco’s network of certain specified current and future pipelines (the “Pipelines”) and related critical assets used for transporting Specified Gas Products, currently covering 80 pipelines and more than 4,000 kilometres in aggregate and transporting substantially all of Saudi Aramco’s currently produced in-Kingdom Specified Gas Products to local customers. Aramco retains ownership, sole control and management of, and is solely responsible for operating and maintaining, the Pipelines.
A benchmark Rule 144A/Regulation S Registered senior secured U.S. Dollar fixed-rate dual-tranche amortizing bond offering (“Notes”) will follow, subject to market conditions. Issuer is rated A1 (positive) by Moody's and A+ (stable) by Fitch and the expected ratings of the Notes are A1 by Moody's and A+ by Fitch. BofA Securities, Citi, Crédit Agricole CIB, J.P. Morgan, Mizuho, Societe Generale and Standard Chartered Bank are acting as Active Bookrunners on the deal. The offering will comprise of:
Tranche A: c.12 Year (Final/Legal Maturity) / c.10 Year (Weighted Average Life) Notes.
Tranche B: c.18 Year (Final/Legal Maturity) / c.14.5 Year (Weighted Average Life) Notes.
Investor meeting logistics will be co-ordinated by Standard Chartered Bank.
GreenSaif will be represented by:
Mr. Matt Prescottano – Director of BlackRock Capital Markets
Mr. Christopher Stephens – Director of BlackRock Capital Markets
Mr. Daan Willems – Associate of BlackRock Global Infrastructure Funds
Date: Tuesday, 16th July 2024
Location: Virtual and Physical Meetings
Logistics: Standard Chartered Bank
| HK Time | KSA Time | UK Time | NY Time | Meeting | |
| #1 | 3:00 PM | 10:00 AM | 8:00 AM | 3:00 AM | Investor Call |
| #2 | 4:00 PM | 11:00 AM | 9:00 AM | 4:00 AM | Investor Call |
| #3 | 5:00 PM | 12:00 PM | 10:00 AM | 5:00 AM | Investor Call / Meeting |
| #4 | 6:00 PM | 1:00 PM | 11:00 AM | 6:00 AM | Investor Meeting |
| #5 | 7:15 PM | 2:15 PM | 12:15 PM | 7:15 AM | Investor Meeting |
| #6 | 8:45 PM | 3:45 PM | 1:45 PM | 8:45 AM | Investor Meeting |
| #7 | 9:45 PM | 4:45 PM | 2:45 PM | 9:45 AM | Investor Call / Meeting |
| #8 | 10:45 PM | 5:45 PM | 3:45 PM | 10:45 AM | Investor Call / Meeting |
| #9 | 11:45 PM | 6:45 PM | 4:45 PM | 11:45 AM | Investor Call / Meeting |
| #10 | 12:45 AM | 7:45 PM | 5:45 PM | 12:45 PM | Investor Call |
| #11 | 1:45 AM | 8:45 PM | 6:45 PM | 1:45 PM | Investor Call |
To access the Global Investor Call recording, please go to: https://dealroadshow.com Password: GREENSAIF24 (case-sensitive)Direct Link: https://dealroadshow.com/e/GREENSAIF24
GreenSaif is represented by:
GREENSAIF PIPELINES BIDCO S.À.R.L. – US$ 144A/REG S DUAL-TRANCHE BOND – INVESTOR PRESENATION
To access the Investor Presentation, please go to: https://dealroadshow.com Password: GREENSAIF (case-sensitive)
Direct Link: https://dealroadshow.com/e/GREENSAIF