Monday 6 February 2017

Saudi Aramco Hires Banks for First Bond Sale Ahead of IPO - Bloomberg

Saudi Aramco Hires Banks for First Bond Sale Ahead of IPO - Bloomberg:

"Saudi Arabian Oil Co. picked four banks to advise on its first bond sale, two people familiar with the matter said, ahead of plans for the world’s largest initial public offering. Saudi Aramco, as the company is known, selected HSBC Holdings Plc’s local unit and Riyad Capital to help with the sale of riyal-denominated Islamic bonds, or sukuk, before the end of June, said the people, asking not to be identified as the information is private. NCB Capital Co. and Alinma Investment Co. are also working on the deal that could be followed by dollar-denominated bonds, two other people said. The sukuk is part of Aramco’s plans to raise as much as $10 billion in bonds this year, one of the people said. Aramco and HSBC Saudi Arabia declined to comment, while Riyad Capital, NCB Capital and Alinma Investment didn’t respond to requests for comment. "



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