Aramco sells $12 billion bonds out of record $100 billion demand - Reuters:
Saudi Aramco is set to raise $12 billion with its first international bond issue after receiving more than $100 billion in orders, a record breaking vote of market confidence for the oil giant which has faced investor concerns about government influence over the company.
State-owned Aramco’s bond issue, split into maturities ranging from three to 30 years, is seen as a gauge of potential investor interest in the Saudi company’s eventual initial public offering.
Before the bond deal was marketed on Monday, Saudi Energy Minister Khalid al-Falih said initial indications of interest for the paper were over $30 billion.
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