JEDDAH: Saudi Aramco said it renewed a $4 billion revolving credit facility with international and Saudi banks. The five-year facility replaces a credit line from 2006, the company said in a statement on its website Saturday. The facility includes a $2.5 billion tranche, of which $1 billion is a 364-day facility, and a $1.5 billion equivalent in riyals, according to the statement. Aramco lenders will receive an average margin of 16 basis points on the $3 billion five-year part, and a margin of 13 basis points over benchmark rates on the $1 billion one-year portion, according to Aramco's statement. A basis point is 0.01 percentage point. Money in a revolving credit can be borrowed again once it's been repaid. “Saudi Aramco took note of the continued confidence in the company by the global banking community, as reflected in the terms of the 2010 revolving credit facility agreement,” the company said in the statement. Riyad Bank and the Saudi British Bank were bookrunners for the Saudi tranche, Aramco said. National Commercial Bank, the largest Saudi lender by assets, and Samba Financial Group were mandated lead arrangers, it added. Arab National Bank, Banque Saudi Fransi, Saudi Hollandi Bank and Saudi Investment Bank were arrangers. Riyad Bank and Saudi British Bank were bookrunners for the Saudi riyal tranche.