Daily Management Review

Saudi Aramco to issue bonds for $ 2 bln


03/21/2017


Saudi Arabian Oil Co., state oil company of Saudi Arabia, plans to raise about $ 2 billion in the debut bond sale, which will be the first step of the energy giant to attract $ 10 billion on the market, Bloomberg reports citing informed sources.



dxme
dxme
Saudi Aramco will sell Islamic bonds, nominated in Riyals, in the II quarter, sources told the agency. The company is preparing to sell bonds before the IPO, which is scheduled for 2018.

Last year, the Middle East and North Africa sold bonds for almost $ 80 billion. This is the largest amount since Bloomberg began collecting data in 1999.

In October las year, the government of Saudi Arabia for the first time sold bonds worth $ 17.5 billion, which became the largest ever placement of bonds among developing countries.

Saudi Aramco enlisted the services of local division of HSBC Holdings Plc and Riyad Capital to participate in the sale of bonds, sources said last month. NCB Capital Co. and Alinma Investment Co. are also working on the deal, which may be followed with a release of dollar bonds.

This year, Saudi Arabia also plans to sell Islamic bonds in Riyals to local institutions to help grow the local market, sources said earlier this month.

source: bloomberg.com






Science & Technology

Toyota is trying to revive demand for Prius

Deloitte: Smart speakers will show record sales in 2019

China takes the lead in quantum cryptography

Gartner: Chinese smartphones lead sales

Bitcoin Mining Worsens Global Warming Effect

Europe overtakes US by number of patents for self-driving car technologies

Samsung introduces display technology for folding screens

How retailers use technologies to increase sales

Facebook releases videochat devices Portal and Portal Plus

Smartphone makers will pay for pre-installing Google apps‍

World Politics

World & Politics

European regions with the most polluted air

Merkel refuses yet another negotiation with May

Hong Kong refuses tiny apartments

Tumblr, Facebook wage war against adult content

Arrest of Huawei’s top manager endangers US-China trade truce

Has Macron given up to Yellow Vests?

What to expect from G20 Buenos Aires summit?

China steps up space race with the US