HSBC, JP Morgan Chase and Samba Financial Group had provided the loan and are also the frontrunners to manage the sukuk transaction, sources told Reuters.
Bahri purchased Vela's fleet of 17 VLCCs at $1.3bn as part of an agreement making Bahri the sole provider of VLCC crude oil shipping services to Aramco.
The transaction, which is yet to be completed, will see the transfer of 78.75m new Bahri shares to Aramco, giving the oil firm a 20% holding in Bahri post-completion.
The banks which provided the bridging loan are expected to be involved in the refinancing, according to a Saudi banker. The investment banking arm of state lender National Commercial Bank could also be involved as an arranger, the news report said.
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