State oil giant Saudi Aramco is limbering up to raise a jumbo bond that could dwarf this week’s $7.5bn sovereign Saudi Arabia issuance (MEES, 11 January).
Energy Minister Khalid al-Falih said on 9 January that the bond, to be issued in Q2, is slated to help cover the cost of the $70bn acquisition of state petchems giant Sabic, although the exact size of the planned bond remains unclear. “It is not going to be anywhere near the number that has been rumored,” said Mr Falih, presumably referring to the $70bn figure. (CONTINUED - 552 WORDS)
