Aramco plans $3b bond sale

Saudi Aramco plans to raise at least $3 billion through its first bond sale in three years, joining Saudi Arabia’s extensive borrowing activities in 2024.

The offering includes bonds with 10-, 30-, and 40-year terms, aimed at refinancing existing debts and funding investment initiatives. Scheduled investor meetings are set to commence this Tuesday.

The oil giant, pivotal to Saudi Crown Prince Mohammed Bin Salman’s economic diversification agenda, continues to expand domestic natural gas production, sustain oil output, and pursue international acquisitions.

The bond size may increase depending on market demand. Aramco, confident in its long-term viability amidst global energy shifts, is leveraging its robust financial position to issue bonds.

Attribution: Bloomberg