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Saudi Aramco has announced its plan to release international bonds denominated in US dollars through its Global Medium Term Note Program.
In a statement on Tadawul, Aramco stated that it has enlisted banks to facilitate the sale of bonds with maturities of 10, 30, and 40 years.
The company emphasized that these US dollar-denominated bonds represent direct, general, unconditional, and unsecured obligations of the company.
Citi, Goldman Sachs International, and HSBC are managing the issuance, with JP Morgan, Morgan Stanley, and SNB Capital serving as active joint bookrunners.
Additional joint bookrunners include Abu Dhabi Commercial Bank, anb capital, and Bank of China, as well as BofA Securities, BSF Capital, and Emirates NBD Capital Limited.
The lineup also features First Abu Dhabi Bank, GIB Capital, and Mizuho, alongside MUFG, Natixis, Riyad Capital, SMBC Nikko, and Standard Chartered Bank.
Aramco had previously accessed global debt markets in 2021, raising $6 billion from a three-tranche sukuk.
In February, the company hinted at the likelihood of issuing bonds this year.
This move aligns with a trend seen among Gulf companies and governments taking advantage of favorable market conditions, as evidenced by Saudi Arabia's issuance of $12 billion in dollar-denominated bonds in January.
