Latham & Watkins and The Law Office of Salman M. Al-Sudairi have advised EIG Pearl Holdings S.à r.l. (EIG Pearl) on its inaugural dual-tranche bond offering, comprising US$1.25 billion 3.545% Senior Secured Bonds due 2036 and US$1.25 billion 4.387% Senior Secured Bonds due 2046. The bonds are rated A (stable) by Fitch and A1 (stable) by Moody’s. EIG Pearl Holdings S.à r.l. is the owner of a 49% shareholding in Aramco Oil Pipelines Company which leases from Saudi Aramco a pipeline network containing all current and future pipelines used for transporting stabilized crude oil within the Kingdom of Saudi Arabia. An aggregator vehicle managed by EIG owns approximately 89% of EIG Pearl, while the remaining 11% is held by a wholly owned subsidiary of Mubadala Investment Company PJSC. The bonds monetize projected equity distributions from Aramco Oil Pipelines Company to be generated from minimum contracted tariff payments due from Saudi Aramco for the right to use and operate the pipelines leased to Aramco Oil Pipeline Company. The issuer intends to use the proceeds for repayment of indebtedness incurred in connection with its acquisition of its shareholding in Aramco Oil Pipelines Company. Citi and J.P. Morgan were Global Coordinators. BNP Paribas, First Abu Dhabi Bank, HSBC, Mizuho, MUFG, and SMBC Nikko acted as Joint Bookrunners. The Latham team was led from London by finance partners Conrad Andersen, Steve Curtis, and James Burnett, with associates Misa Schmiederova, Hamaad Mustafa, and Alyssa Wu. The Law Office of Salman M. Al-Sudairi advised on Saudi law matters, with a team led by counsel Amar Meher with associates Homam Khoshaim, Wassim El Mardini, and Mashal Al-Assaf. Advice was also provided on hedging matters by London partner Dean Naumowicz with London associate Delyth Hughes, and on corporate matters by London partner John Guccione.~~