Saudi Aramco, the world's largest oil company, is looking to raise up to $3 billion from U.S.-dollar denominated Islamic bonds
Saudi Aramco , the world’s largest oil company, is looking to raise up to $3 billion from U.S.-dollar denominated Islamic bonds, Reuters reported on Tuesday, quoting sources with direct knowledge of the plans. Aramco , which is also the world’s single biggest crude oil exporter, plans to issue Islamic bonds, the so-called sukuk, in two tranches—five-year notes and ten-year notes. The Saudi oil giant aims to raise up to $3 billion from the bond sale, according to the sources.
The Saudi oil giant issued in July a $6-billion bond—its first foray in the bond market since 2021. Before 2024, the previous time the world’s top oil firm tapped the bond markets was in 2021, when Aramco raised $6 billion via its first Islamic bond denominated in U.S. dollars, orders for which exceeded $60 billion. Orders for the $6-billion bond in July topped $31 billion.
Bonds Sukuk Islamic Bonds Financing Upstream
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