Saudi Aramco said to plan USD2bn debut bond ahead of IPO
Saudi Aramco is reportedly seeking to raise about USD2bn (SAR533mn) in its debut bond sale, the first step of a plan by the energy giant to tap markets for USD10bn. The company will sell SAR-denominated Islamic bonds as early as 2Q17, and the issuance will be privately placed with investors, according to the sources. The company hired HSBC Holdings Plc’s local unit and Riyad Capital to help with the sale. NCB Capital Co. and Alinma Investment Co. are also working on the deal that could be followed by dollar-denominated bonds.
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