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Saudi Aramco Completes Issuance of $8b-Worth Intl Bonds

Saudi Aramco Completes Issuance of $8b-Worth Intl Bonds

Thursday, 26 November, 2020 - 10:15

The Saudi Arabian Oil Company, Saudi Aramco, has completed the issuance of $8 billion worth of senior international bonds, it announced in a press release on Wednesday.

A total of 40,000 bonds were issued at a value of $200,000 each, bringing the total to $8 billion.

The bonds are set to mature at the following rate; 1.250 percent in three years, 1.625 percent in five years, 2.250 percent in 10 years, 3.250 percent in 30 years and 3.5 percent in 50 years.

The oil giant said that the bonds were issued in accordance with the Rule 144A/Reg S offering requirements under the US Securities Act of 1933G.

“The stabilization rules of the Financial Conduct Authority (FCA) and the International Capital Market Association (ICMA) also apply.”

The bonds will be listed on the London Stock Exchange’s Regulated Market.

Meanwhile, Saudi Basic Industries Corp. (SABIC) is considering an initial public offering of its multi billion-dollar specialty chemicals unit, people familiar with the matter told Bloomberg.

SABIC is speaking with advisers as it weighs a potential listing of the business as early as 2021, they said.

Specialty chemicals, which Sabic recently carved out as a separate unit, generate about $2 billion of annual revenue, they added.

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