{"id":127265,"date":"2021-06-02T10:35:31","date_gmt":"2021-06-02T10:35:31","guid":{"rendered":"https:\/\/precoinnews.com\/?p=127265"},"modified":"2021-06-02T10:35:31","modified_gmt":"2021-06-02T10:35:31","slug":"saudi-aramco-in-talks-with-banks-for-new-bond-sale-sources","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/saudi-aramco-in-talks-with-banks-for-new-bond-sale-sources\/","title":{"rendered":"Saudi Aramco in talks with banks for new bond sale – sources"},"content":{"rendered":"
FILE PHOTO: The logo of Aramco is seen as security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS\/Hamad I Mohammed\/File Photo<\/figcaption>

DUBAI (Reuters) – Saudi Arabian oil group Aramco is in talks with banks for a U.S. dollar-denominated bond issue, two sources said, seeking to raise money ahead of large commitments for its major shareholder, the Saudi government.<\/p>\n

Aramco was widely expected to become a regular bond issuer after its debut $12 billion bond deal in 2019 was followed by an $8 billion, five-part transaction in November last year.<\/p>\n

Aramco did not immediately respond to a request for comment.<\/p>\n

The oil company last year maintained a $75 billion promised dividend despite lower oil prices, and is expected to shoulder significant domestic investments that form part of Saudi Arabia\u2019s plans to transform the economy.<\/p>\n

\u201cI think it was expected. They need the cash to pay the dividends that have been promised, they\u2019ve done it in the past too,\u201d said a debt banker, speaking on condition of anonymity.<\/p>\n

One of the sources said the deal could happen in the coming weeks. Qatar Petroleum is expected to issue bonds by the end of June that sources have said could go up to $10 billion in size.<\/p>\n

\u201cIt could well be busy,\u201d the source said.<\/p>\n

Bloomberg, first to report on the bond deal earlier on Wednesday, said the debt sale would be through Islamic bonds, or sukuk, and cited an anonymous source saying Aramco could raise around $5 billion.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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