Home Industry Finance Saudi Aramco plans $2bn debut bond – report The sale comes ahead of the firm’s planned 2018 IPO by Staff Writer March 21, 2017 State-owned oil giant Saudi Aramco is reportedly planning to raise about $2bn in a debut bond sale. Bloomberg cited sources as saying that the company would sell riyal denominated Islamic bond, or sukuk, as early as the second quarter under plans to raise up $10bn on international markets. The sale comes ahead of the firm’s planned 2018 IPO and will add to some $80bn raised through bonds in the Middle East and North Africa region last year. Read: Saudi Aramco’s IPO on track to take place in second half of 2018 – CEO This included the Saudi government’s record $17.5bn issuance. Read: Saudi sets record with mammoth $17.5bn bond issue The business news service said Aramco hired HSBC’s local unit and Riyad Capital for the sale. NCB Capital and Alinma Investment Co are also said to be working on the deal, which could be followed by dollar-denominated bonds. The Saudi government is also said to be planning the sale of Islamic bonds in riyals to local institutions this year along with possible dollar Islamic bonds on the international market, the sources said. 0 Comments