Saudi Aramco’s $8 bln bond issue attracts 150 investors, says official

Saudi Arabian Oil Co.’s (Saudi Aramco) $8 billion senior, dollar-denominated bond issue attracted 150 new investors, Al Sharq TV reported, citing Khalid H Al-Dabbagh, Senior Vice President of Finance, Strategy and Development.

“The successful bond completion reflects investors’ confidence in Saudi Aramco and the Kingdom’s economy, and it implies Saudi Aramco’s resilience amid the ongoing challenges, especially in the energy industry,” Al-Dabbagh said.

The $8 billion senior, dollar-denominated bond included a new tranche with a 50-year maturity, Al-Dabbagh said, adding that the bond issue completion reflects investors’ high turnout and confidence in the company’s position as well as future plans.

Saudi Aramco announced yesterday, Nov. 25, the successful completion of $8 billion senior, dollar-denominated bonds, unsecured by assets under its Global Medium-Term Note (GMTN) Program, data compiled by Argaam showed.