Saudi Bond Coup Seen Strengthening Banks Seeking Aramco IPO Role - Bloomberg:
"Banks that helped Saudi Arabia raise a record $17.5 billion last week will next turn to an even bigger prize: landing a role on the potential $100 billion initial public offering of Saudi Arabian Oil Co.
HSBC Holdings Plc, Citigroup Inc. and JPMorgan Chase & Co. were joint global coordinators on last week’s bond sale, which attracted $67 billion worth of orders from mainly U.S. and European investors. Analysts say the bond’s success puts those banks and other lenders that worked on the deal in a prime position to land significant roles on the IPO as soon as next year.
The bond sale is “definitely a big plus for the banks that were involved," said Murad Ansari, a Riyadh-based analyst at investment bank EFG-Hermes. “Given the size of Aramco’s IPO, I would expect quite a number of international banks to be involved in the consortium.""
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