Saudi Aramco to issue bonds in second-quarter 2019, list in 2021: energy minister | Reuters:
Saudi Aramco [IPO-ARAM.SE] will issue bonds in the second quarter of 2019, Saudi Arabia’s energy minister said on Wednesday.
The Saudi oil giant has considered issuing bonds to help finance its planned acquisition of a controlling stake in petrochemical maker SABIC.
The deal is expected to involve the purchase of all or nearly all of the 70 percent stake in SABIC held by the Public Investment Fund (PIF), the kingdom’s top sovereign wealth fund. That implies a deal value of roughly $70 billion, though the acquisition price has not been made public yet.
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