Why the bond market is so keen to back Saudi Aramco | Financial Times:
It is not every day that a company asks to borrow money while at the same time explicitly stating that it has absolutely no need for it.
Then again, it is not every day that the most profitable company in the world emerges from a shroud of secrecy, to tap international bond markets for the first time.
Saudi Aramco’s debut bond sale is just days away, prompting the jewel in the crown of the desert kingdom to open its books and reveal some staggering numbers. The Saudi Arabian oil company booked $111bn of net income in 2018, more than that of Apple and Alphabet combined.
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