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Aramco starts issuing USD-denominated Sukuk

Aramco starts issuing USD-denominated Sukuk
The offering period has started on 7 June
SAUDI ARAMCO
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Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has started issuing USD-denominated Sukuk under the Ministry of Finance’s Trust Certificate Issuance Programme, according to a disclosure to Tadawul on Monday.

The offering period has started on 7 June, and will remain until 17 June 2021, with a minimum subscription value of $200,000.

Aramco said the offering value, par value, and maturity period will be determined according to market conditions.

The company noted that the international trust certificates are Shariah-compliant, direct, unsecured, and will be limited recourse obligations.

Last week, Aramco announced its plans to sell Sukuk to fund a $75 billion dividend commitment.