Saudi Arabian Oil Co. (Saudi Aramco) announced today, Nov. 25, 2020, the successful completion of $8 billion senior, dollar-denominated bonds, unsecured by assets under its Global Medium-Term Note (GMTN) Program.
A total of 4,000 bonds were issued, at a nominal value of $200,000, and integral multiples of $1,000 in excess thereof, the oil giant said in a statement to Tadawul.
The return on 3-year maturity bonds stands at 1.250%, 5-year maturity at 1.625%, 10-year maturity at 2.250%, 30-year maturity at 3.250% and 50-year maturity at 3.500%.
The bonds will be redeemed on maturity, with early redemption possible following a change of control event and issuer call option.
Aramco said that the bonds are issued in accordance with the Rule 144A/Reg S offering requirements under the US Securities Act of 1933G, as amended. The stabilisation rules of the Financial Conduct Authority (FCA) and the International Capital Market Association (ICMA) also apply.
The bonds will be listed on the London Stock Exchange’s Regulated Market.
The company’s board of directors approved the issuance of senior, dollar-denominated bonds, unsecured by assets under its GMTN Program from Nov. 16 to 18, 2020.
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