Deliver Your News to the World

Aramco announces completion of a $3 billion international sukuk issuance


WEBWIRE

Aramco, one of the world’s leading integrated energy and chemicals companies, today announced the completion of a $3 billion international sukuk issuance, comprised of two US dollar-denominated tranches. 

The tranches are split as follows:

  • $1.5 billion maturing in 2029, carrying a profit rate of 4.25% per annum; and
  • $1.5 billion maturing in 2034, carrying a profit rate of 4.75% per annum.


The issuance was priced on September 25, 2024, and the securities were listed on the London Stock Exchange.

  • The offering received strong demand and was six times oversubscribed.
  • Both tranches were priced with a negative new issue premium, reflecting Aramco’s strong credit profile.
  • The successful issuance builds on Aramco’s efforts to diversify and broaden its investor base, further enhance liquidity, and re-establish its sukuk yield curve.


Ziad T. Al-Murshed, Aramco Executive Vice President & CFO, said: “Building on the strong investor reception from our July 2024 bond issuance, this sukuk offering represented an opportunity to engage with a broader investor base. The impressive demand, as demonstrated by the oversubscribed sukuk order book, reflects Aramco’s unique credit proposition, underpinned by its competitive advantage and a proven track record of financial resilience through cycles.”


( Press Release Image: https://photos.webwire.com/prmedia/6/327882/327882-1.jpg )


WebWireID327882





This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.