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Aramco prices its debut Islamic sukuk for $2bn

Aramco prices its debut Islamic sukuk for $2bn
(Photo Credit: Arabianeye-Reuters)

Riyadh – Mubasher: Saudi oil giant “Aramco” set the final pricing for its debut Islamic sukuk, as a part of its plans to raise $10 billion in debt, according to a person quoted by Bloomberg.

The news agency reported that Aramco seeks collecting about $2 billion from its first issuance of Islamic bonds under the sukuk programme of SAR 37.5 billion ($10 billion).

The oil giant will sell its debt with a seven year tenure in a private placement at 25 basis points over the country’s interbank offered rate, Bloomberg source added.

Moreover, Alinma Investment Co., GIB Capital, HSBC Holdings, NCB Capital, Riyad Capital, Samba Capital and Saudi Fransi Capital will arrange the Islamic sukuk, which are expected to close on 3 April, according to the agency.