Saudi Aramco targets rare 50 year tranche in cash grab

Adobe_SaudiAramco_575x375_22April2020
By Mariam Meskin
16 Nov 2020

Saudi Aramco, which made its debut in bond markets last year, has mandated banks to arrange a dollar offering, including a 50 year tranche — a maturity only issued once before by a Gulf borrower. According to market players, this is an opportunistic move to grab cash before year-end taking advantage of yield-hungry investors.

The issuer is seeking a Reg S/144A dollar senior unsecured bond in three, five, 10, 30 and or 50 year tranches.

Aramco, rated A1/A by Moody’s and Fitch,  has mandated Citi, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley and NCB Capital as active bookrunners. BNP Paribas, Bank ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial