Upcoming issue: Saudi Aramco (A1/-/A)
November 16, 2020
Issuer: Saudi Aramco (A1/-/A)
Issue description: USD denominated tranches
Date: A fixed-income investor call starts today
Maturity: Expected maturity of 3, 5, 10, 30, and 50 years. It will depend on investor demand
Bookrunners and Lead Managers: Citigroup Inc., HSBC Holdings Plc, JPMorgan Chase & Co., Morgan Stanley, Riyadh-based NCB Capital, and Goldman Sachs Group Inc.
Purpose: The company needs to finance a $75 billion dividend commitment
It's the first time the company enters the debt market since April 2019. Last time Aramco managed to place bonds of $12 billion. It became one of the most oversubscribed placements in history, attracting over $100 billion in investor orders.
Company — Saudi Arabian Oil
Full nameSaudi Arabian Oil Co. (Saudi Aramco)
Registration countrySaudi Arabia
IndustryOil and gas