November 9, 2017 / 12:11 PM / a year ago

Britain says will provide Saudi Aramco with credit guarantees

LONDON, Nov 9 (Reuters) - Britain’s government said on Thursday it will provide Saudi Aramco with $2 billion in credit guarantees so that the Saudi energy giant can buy goods and services from Britain more easily.

“This builds on previous support for UK exports as part of Saudi Aramco joint venture projects,” a government spokesperson said in a statement.

The Financial Times earlier reported the British plan which coincided with efforts by Britain to persuade the state Saudi energy company to list its shares on the London Stock Exchange in an initial public offering.

A spokesman for Britain’s finance ministry said the credit guarantees were not part of the attempt to secure the IPO. (Reporting by Andy Bruce)

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