Saudi Aramco targets rare 50 year tranche in cash grab

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 ...

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