Saudi Aramco raises $3bn in sukuk despite regional tensions
Saudi Aramco has raised $3 billion through a two-tranche Islamic bond sale, with strong investor demand allowing the state oil giant to tighten pricing even as geopolitical tensions flared after an Israeli strike on Qatar earlier this week.
According to reports, the issuance comprised $1.5 billion in five-year sukuk priced at a 4.125% profit rate and another $1.5 billion in 10-year sukuk at 4.625%. Both tranches’ spreads were tightened by 35 basis points from initial guidance.
Final orders topped $16.85 billion, with peak demand exceeding $20 billion, a separate bank document showed.
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Muhammad Ali Bandial