DUBAI, Nov 16 (Reuters) – Saudi Aramco this yr prolonged the maturity of two revolving credit score amenities it took in 2015, which means these loans price a complete of $eight billion can be obtainable via March 2022, a bond prospectus confirmed.

Aramco mentioned on Monday it plans to difficulty multi-tranche U.S. dollar-denominated bonds, because the world’s largest oil firm seeks to boost money amid weak world oil demand and decrease oil costs.

The prospectus confirmed that in June this yr the oil large amended sure agreements relating to one of many two revolving loans, a $6 billion standard credit score facility, to include a $2 billion “swingline” sub-facility to assist the institution of a U.S. industrial paper programme. No debt had been issued underneath the programme as of Sept. 30, the prospectus mentioned.

Swingline loans are aimed toward supporting a borrower’s short-term money administration wants.

Aramco had an unused stability of $10 billion underneath its revolving credit score amenities as of end-2019, the doc mentioned.

As of Sept. 30, Aramco had $135.55 billion in whole borrowings, up from $46.82 billion on the finish of 2019, the prospectus confirmed, a leap largely defined by its acquisition of a 70% stake in Saudi Fundamental Industries Corp (SABIC).

The prospectus additionally confirmed Aramco took a $10 billion mortgage in Might that was beforehand reported by Reuters. The mortgage matures on Might 6, 2021, however Aramco has the choice to increase it for a yr. As of Sept. 30, the mortgage had been totally utilised. (Reporting by Yousef Saba and Davide Barbuscia, modifying by Ed Osmond)