23 March, 2017
Article length: 98 words
Saudi Arabia: Aramco to raise $2bn
Saudi Aramco plans to issue $2bn in a debut bond offering, as the first part of a wider $10bn fund-raising exercise. The move comes ahead of Aramco’s planned stock market listing, which is expected some time next year (GSN 1,033/10). The bond is likely to be a sharia-compliant sukuk and most of it is expected to be placed privately. Bloomberg reported that local investment banks working on the deal include HSBC Saudi Arabia, Riyad Capital, NCB Capital and Alinma Investment Company. Capital Markets Authority approval was expected as GSN went to press.