By Davide Barbuscia and Clara Denina
DUBAI/LONDON, April 22 (Reuters) - Saudi Aramco has chosen
HSBC and Japan's Sumitomo Mitsui Banking Corporation
(SMBC) to coordinate talks with other banks for a loan
of about $10 billion the oil giant plans to raise, sources said.
The jumbo financing would help the company back its
acquisition of a 70% stake in Saudi Basic Industries Corp
(SABIC) from Saudi Arabia's Public Investment Fund, a deal worth
almost $70 billion, sources told Reuters last week.
Aramco did not comment on the banks choice but said it
continues to review its financial options "as part of its normal
course of business, while prudently preserving its pristine
balance sheet and its resilience."
HSBC declined to comment and SMBC could not be immediately
reached for comment.
(Additional reporting by Takashi Umekawa in TOKYO, editing by
Louise Heavens)