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.