EIG’s Pearl Pipelines Completes Refinancing of Approximately $11 Billion in Senior Debt

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Brings total capital invested in its 49% stake in the Aramco pipeline to approximately $13 billion; supports foreign direct investment in the Kingdom of Saudi Arabia, with approximately 65% of investment capital coming from outside the Kingdom of Saudi Arabia

LUXEMBOURG–(ANTARA/Business Wire)– EIG Pearl Holdings S.à rl, a holding company formed and managed by EIG, a leading global institutional investor in the energy and infrastructure sectors, today announced the closing of an approximately $11.2 billion senior debt refinancing program, with the proceeds used to repay amounts drawn on the acquisition debt facility used to finance its June 2021 acquisition of a 49% stake in Aramco Pipeline Company (“AOPC”).

The projected capital structure of EIG Pearl Holdings S.à rl consists of approximately $11.2 billion of senior secured public and private debt financing with a remaining weighted average maturity of approximately 16 years, and approximately $1.9 billion of common stock invested in June 2021 to partially finance the initial acquisition.

The completion of this senior debt refinancing program further expands the participation of global capital providers in this transaction and the underlying assets in the Kingdom of Saudi Arabia – approximately $8.5 billion, or approximately 65% of the total investment capital comes from prominent global institutional investors and lenders from the United States, China, Japan, South Korea, the United Arab Emirates and other global institutions.

About EIG Pearl Holdings S.à rl

EIG Pearl Holdings S.à rl owns 49% of the shares of AOPC, a limited liability company established in the Kingdom of Saudi Arabia that is entitled to receive 25 years of tariff payments for oil transported through the Aramco Stabilized Crude Oil Pipeline Network, which includes all existing and future pipelines in the Kingdom of Saudi Arabia. EIG Pearl Holdings S.à rl is indirectly owned by an aggregation company managed and controlled by EIG Management Company, LLC and its affiliates, which owns 89.45% of the shares.

For more information, please visit the EIG Pearl Holdings S.à rl website: www.pearlpipelines.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240702726844/en/

Contact information

FGS Global

Kelly Kimberly / Brandon Messina

+1 212-687-8080

EIG@fgsglobal.com

Source: EIG

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