Aramco announces completion of $6 billion bond issuance
Summary
Aramco, one of the worlds leading integrated energy and chemicals companies, today announced the successful completion of a US $6 billion bond issuance. The transaction was priced on 10 July 2024, and the notes are listed on the London Stock Exchange.The offering was more than six times oversubscribed, based on the initial targeted size of $5 billion. The transaction received strong demand from a diverse base of investment-grade focused institutional investors. All three tranches were favourably priced with a negative new issue premium, reflecting Aramcos strong credit profile.Ziad T. Al-Murshed, Executive Vice President of Finance & CFO at Aramco, said in a press statement, We are pleased with the strong interest and level of engagement from investors globally, both existing and new. Our order book exceeded $33 billion at its peak, reflecting Aramcos exceptional financial resilience and fortress balance sheet.