London, October 06, 2024, (Oilandgaspress) ––––Aramco announced the completion of a $3 billion international sukuk issuance, comprised of two US dollar-denominated tranches.
The tranches are split as follows:
$1.5 billion maturing in 2029, carrying a profit rate of 4.25% per annum; and
$1.5 billion maturing in 2034, carrying a profit rate of 4.75% per annum.
The issuance was priced on September 25, 2024, and the securities were listed on the London Stock Exchange.
The offering received strong demand and was six times oversubscribed.
Both tranches were priced with a negative new issue premium, reflecting Aramco’s strong credit profile.
The successful issuance builds on Aramco’s efforts to diversify and broaden its investor base, further enhance liquidity, and re-establish its sukuk yield curve.
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