DUBAI, Feb 9 Reuters Investors in Saudi Aramco39;s gas pipelines network, led by BlackRock Inc, have begun a sale of dollar bonds in three tranches to refinance a multibillion dollar loan that backed their stake purchase, a bank document showed.

Initial price guidance was around 240 basis points bps over U.S. Treasuries UST for sukuk, or Islamic bonds, with a weighted average life WAL of 712 years, the document showed.

Guidance was around 275 bps over UST for a tranche with a 12year WAL and around 305 bps over UST for Formosa bonds with an 18year WAL. The deal is expected to price late on Thursday.

Reporting by Yousef Saba; editing by Jason Neely

Source Reuters