EIG Pearl Holdings S.à r.l., a holding company managed by EIG, a prominent institutional investor in the global energy and infrastructure sectors, has announced the successful completion of an approximately $11.2 billion senior debt refinancing program. This program was undertaken to retire debt incurred from an acquisition debt facility used to finance its acquisition of a 49% stake in Aramco Oil Pipelines Company (“AOPC”) in June 2021.
The pro forma capital structure of EIG Pearl Holdings S.à r.l. now comprises approximately $11.2 billion in senior secured public bonds and private debt facilities, with an average remaining weighted life of around 16 years. Additionally, about $1.9 billion in common equity was invested in June 2021 to partially finance the initial acquisition.
This refinancing initiative has broadened the involvement of global capital providers in the transaction and the underlying asset located in the Kingdom of Saudi Arabia. Approximately $8.5 billion, constituting around 65% of the total invested capital, was contributed by a diverse group of well-established institutional investors and lenders from the United States, China, Japan, Korea, the United Arab Emirates, and other global institutions.
