Saudi Aramco to meet bond investors next week ahead of debut dollar bond - sources | ZAWYA MENA Edition:
Saudi Aramco will start meeting bond investors next week to persuade them to buy its debut international bond, which will help the world's largest oil producer fund the $69.1 billion purchase of a stake in Saudi Basic Industries Corp (SABIC), sources familiar with the matter said.
The Saudi oil giant, which declined to comment, said on Wednesday it had agreed to buy a 70 percent stake in SABIC from Saudi Arabia's Public Investment Fund (PIF) in one of the largest deals in the global chemicals industry.
The deal could inject billions of dollars into the PIF, giving it the firepower to proceed with its plans to create jobs and diversify the largest Arab economy beyond oil exports.
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