Saudi Aramco begins marketing debut dollar sukuk in 3 tranches: sources

09/06/2021 Argaam

Logo of Saudi Aramco


Oil giant Saudi Aramco launched its first US dollar-denominated sukuk today, June 9, 2021, which will be issued in three tranches, according to a term sheet seen by Reuters.

 

The deal will consist of three, five and 10-year tranches, the report said.

 

Potential investors have been given pricing guidance for the three-year of US Treasury bonds plus 105 basis points, for the five-year of US Treasury bonds plus 125 basis points, and for the 10-year of US Treasury bonds plus 160 basis points.

 

According to data compiled by Argaam, Saudi Aramco commenced the issuance of Shariah-compliant international trust certificates under its “Trust Certificate Issuance Program”, with the offering ending on June 17, 2021.

 

The amount of the certificates will be subject to market conditions, and the net proceeds from each trust certificate issue will be used for general corporate purposes or any other purpose specified in the final terms for a series of trust certificates.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.