Saudi Aramco says bonds issuance on table for SABIC deal

20/11/2018 Argaam

 

Saudi Aramco said on Tuesday that all funding options, including the issuance of bonds, are being studied for its potential acquisition of a stake in Saudi Basic Industries Corporation (SABIC), Reuters reported.

 

“The company is actively pursuing a strategy of enhancing its portfolio by investing further into downstream and the petrochemical sector in particular. This includes discussions underway with the Public Investment Fund (PIF) regarding the potential acquisition of a strategic interest in SABIC,” Aramco told the news agency.

 

“All funding options, including the issuance of bonds, are being examined. The company will make any related disclosures as and when it is appropriate to do so,” it added.

 

The statement follows a Wall Street Journal report this week that said Aramco was no longer planning to launch a corporate-bond sale to fund the SABIC acquisition.

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