Featured
Aramco to Probably Sell $10 Billion Bond to Buy Sabic Stake
Saudi Aramco could tap the bond market for about $10 billion to help fund the acquisition of petrochemicals giant Saudi Basic Industries Corp., according to the country’s Energy Minister Khalid Al-Falih.
The kingdom will decide in the “next few weeks” about the size of the proposed bond, though the offering would not be “huge,” Al-Falih told reporters in Abu Dhabi. “It will be probably in about the 10 billion range.”
Aramco plans to tap the market in the second quarter, selling its first international bond and forcing the world’s largest oil producer to disclose its accounts to investors for the first time since its nationalization roughly four decades ago. It may also have to make public details about oil reserves and operations.
Aramco is in talks to buy a 70 percent share in Sabic from the Public Investment Fund, which could cost about $70 billion. Some had expected the potential bond to rank among the largest issued by a company if Aramco planned to finance a large chunk of the Sabic deal with it, though Al-Falih last week played down chatter in the market that Aramco would fund the entire deal with the bond offering.
Saudi Arabia last week sold $7.5 billion of international bonds in the first test of how much damage the killing of columnist Jamal Khashoggi inflicted on investor appetite. While early indications showed the kingdom would have to pay up, the premium narrowed substantially as the day went by.
Finance Minister Mohammed Al-Jadaan said in December the nation intends to sell about 120 billion riyals ($32 billion) of local and foreign-currency debt this year to help finance its deficit.
-
Artificial Intelligence1 month agoTop 5 Interesting Things AI Did This Month – September 2026 Edition
-
Fashion3 weeks agoLuxury Watches That Could Appreciate Over the Next Decade [2026 Auction Buyer Guide]
-
Economy3 weeks agoOER Magazine September Edition 2026
-
Banking & Finance1 month agoThe GCC’s 10 Richest Billionaires: Inside US$253.5 Billion of Wealth
-
Magazines2 months agoOER Magazine July Edition 2026
-
Magazines2 months agoAl Mar’a Magazine July 2026
-
Banking & Finance1 month agoINVESTIGATION: What If You Bought Apple Stock Every Time You Bought an iPhone?
-
Alamaliktistaad Magazines2 months agoAlam Al-Iktisaad Magazine July 2026 Edition

You must be logged in to post a comment Login