Saudi Aramco has said it intends to issue US dollar-denominated international bonds under its Global Medium Term Note Program.
Aramco hired banks to sell bonds maturing in 10, 30 and 40 years, it said in a statement on Tadawul.
It said that its US dollar-denominated bonds are direct, general, unconditional, and unsecured obligations of the company.
The issuance is managed by Citi, Goldman Sachs International, and HSBC. JP Morgan, Morgan Stanley, and SNB Capital are also participating as active joint bookrunners.
Additional joint bookrunners include Abu Dhabi Commercial Bank, anb capital, and Bank of China, alongside BofA Securities, BSF Capital, and Emirates NBD Capital Limited.
It also includes First Abu Dhabi Bank, GIB Capital, and Mizuho, along with MUFG, Natixis, Riyad Capital, SMBC Nikko, and Standard Chartered Bank.
Aramco, which last tapped global debt markets in 2021 when it raised $6 billion from three-tranche sukuk, flagged in February it was likely to issue bonds this year.
Gulf companies and governments have raised funds in debt markets this year to take advantage of favorable market conditions, with Saudi Arabia issuing $12 billion of dollar-denominated bonds in January.
