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11/16/2020, 7:28 AM (Source: TeleTrader)
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Saudi Aramco to start issuing international bonds

Saudi Arabian multinational petroleum and natural gas company Saudi Aramco said on Monday it decided to issue international bonds pursuant to its global medium-term note program. According to the official statement, bonds will be senior, US dollar-denominated and unsecured by assets. A multi-tranche offering consists of 3, 5, 10, 30 and 50-year tranches.

The amount will be the "subject to market conditions and the net proceeds from each issue of bonds will be used by the company for general corporate purposes or for any other purpose specified in final terms for A series of bonds."

Aramco has mandated JPMorgan, Morgan Stanley as arrangers and dealers who will organize A series of fixed income and it has also mandated Goldman Sachs, Citi, HSBC, NCB Capital, BNP Paribas, BOC International, BofA Securities, Credit Agricole, First Abu Dhabi Bank, Mizuho, MUFG, SMBC Nikko and Societe Generale in order to arrange investor calls starting today.

Breaking the News / TF