Saudi Aramco: Thinking about peers in the bond market
Saudi Aramco, the world biggest hydrocarbons producer, is looking to tap into the international debt market with a debut US$10bn bond next week, according to the Wall Street Journal. The news of the transaction came on the back of yesterday’s announcement that Saudi Aramco has agreed to pay US$69bn to Saudi Arabia's sovereign wealth fund for a 70% stake in SABIC, one of the world’s largest petrochemical companies.
Saudi Aramco is the world biggest oil & gas company with c12.3mn barrels of oil equivalent (boe) per day hydrocarbon production and 333bn boe of proved reserves in 2017, according to the company. Fully owned by the Kingdom of Saudi Arabia (KSA), the company has never disclosed its full financial results...
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