Aramco eyes debt markets to seize opportunities, not boost liquidity: executive

21/03/2021 Argaam

Khalid Al-Dabbagh, senior vice president of finance, strategy and development

Saudi Arabian Oil Co. (Saudi Aramco) taps debt markets not for the need to boost liquidity but to seize any available opportunities and meet customer demands wishing to benefit from the company's bonds, Asharq News TV channel reported, citing Khalid Al-Dabbagh, senior vice president of finance, strategy and development.

 

Aramco received the highest rating from the rating agencies, Al-Dabbagh said, adding that the company borrows to maintain its relationship with the global debt markets.

 

On Nov. 25, 2020, Aramco successfully completed $8 billion senior, dollar-denominated bonds, unsecured by assets under its Global Medium-Term Note (GMTN) Program, according to data compiled by Argaam.

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