#Saudi Aramco sets spread for three-part bond sale | Reuters

Saudi Aramco sets spread for three-part bond sale | Reuters

Oil giant Saudi Aramco (2222.SE), opens new tab has set spread for its dollar-denominated 3-part bonds, fixed income news service IFR reported on Tuesday.

Aramco on Tuesday set the spread for the five-year debt sale at 80 basis points over U.S. Treasuries tighter than 115 bps over the same benchmark released earlier in the day.

The proceeds from each issue of bonds will be used by Saudi Aramco for general corporate purposes, the company said in a bourse filing.

The debt deal, which is expected to be priced later in the day, will be benchmark-sized, which is usually considered to be at least $500 million.

Earlier this month, Aramco reported a 4.6% drop in first quarter profits, citing lower sales and higher operating costs as economic uncertainty hit crude markets.

Reuters reported last week that the oil giant is exploring potential asset sales to release funds as it pursues international expansion and weathers the impact of lower crude prices .

The company last turned to global debt markets in July last year when it raised $6 billion from a three-tranche bond sale.

Saudi Arabia, which is seeking funds to invest in new industries and wean its economy away from oil under its Vision 2030 plan, has long relied on Saudi Aramco to support economic growth.

Other Gulf issuers have tapped debt markets in recent months, braving a market turmoil caused by U.S. President Donald Trump's tariff policies.

They include Saudi Arabia's $925 billion sovereign wealth fund and Abu Dhabi's renewable energy firm Masdar, which last week raised $1 billion with a green bond.

#AbuDhabi's TAQA eyes acquisition opportunities in 'key' US market | Reuters

Abu Dhabi's TAQA eyes acquisition opportunities in 'key' US market | Reuters

Abu Dhabi's TAQA (TAQA.AD), opens new tab is exploring buying companies in the United States and elsewhere, its chief executive told Reuters, as the state-owned utility continues its international expansion and strives to reach ambitious growth targets.

"The U.S. is a key market for us," and "if the right opportunity presents itself for TAQA, we would be pursuing that," Jasim Husain Thabet said in an interview, without disclosing specific targets.

ADPower, a unit of Abu Dhabi sovereign wealth fund ADQ, owns just over 90% of TAQA, which in recent years has been investing in companies and projects across several markets including the United States. TAQA's Masdar unit last year acquired a 50% stake in U.S. renewable energy firm Terra-Gen.

The United Arab Emirates said this month it planned to raise its energy investments in the U.S. to $440 billion in the next decade, boosting U.S. President Donald Trump's efforts to secure major business deals on a Gulf tour.

TAQA has said it aims to spend around $20 billion between 2023 and 2030 on organic and inorganic growth, aiming for 150 gigawatts of capacity by the end of that period, up from around 56 GW now.

Thabet said that TAQA would generally prefer to acquire a fully integrated company with generation, networks and "a pipeline of growth".

Asked about possible investment opportunities in Syria, where the lifting of U.S. sanctions has cleared the way for foreign investments, Thabet said it was too early, but that the company would monitor the situation.

TAQA, which raised $1.75 billion from a bond sale last October, does not immediately need to raise more debt but might tap markets again if a large M&A deal materialises, he said.

The firm has not held talks this year with Naturgy's (NTGY.MC), opens new tab shareholders about buying a stake in the Spanish utility after such discussions were abandoned nearly a year ago, Thabet said, contradicting a news report from March.

He declined to comment on why talks to buy investor Criteria's 26.7% stake in Naturgy had broken down, saying only that there were "certain things that there was no agreement on".

"And it's fine when there's no agreement. Everyone walks their way. And it's important that we focus on the future and other M&A opportunities."

#SaudiArabia-Based REDA Hazard Control Is Said to Explore Sale - Bloomberg

Saudi Arabia-Based REDA Hazard Control Is Said to Explore Sale - Bloomberg

Saudi Arabia-based REDA Hazard Control has been exploring strategic options including a full sale, according to people familiar with the matter, offering a rare opportunity for investors to buy into a privately held firm in the kingdom.

The fire safety and equipment company has been working with Moelis & Co. on the potential transaction, the people said, asking not to be identified as the talks are private. It has approached prospective buyers — including both regional and international private equity firms, the people said.

No final decision has been made and discussions could still fall through, they added. Representatives for REDA and Moelis declined to comment.

Founded in 1986, REDA provides safety and security services to key sectors in the kingdom including oil, gas, petrochemicals and aviation. Its clients include oil giant Saudi Aramco and chemical major Sabic, according to the company’s website.

The company’s strong links to Saudi industrial heavyweights and its push to expand beyond the Gulf could make it attractive to global investors, the people said.

Saudi Arabia is in the middle of an economic transition aimed at boosting local manufacturing and developing non-oil sectors such as mining and aviation.

REDA also supplies specialty gear such as gas detectors, fire station equipment and welding helmets. Most of its offices, workshops and manufacturing sites are in the Gulf, but it also operates in Central and South Asia, North Africa and Ohio in the US, according to its website.

#SaudiArabia index closes at lowest since early April | Reuters

Saudi Arabia index closes at lowest since early April | Reuters

Saudi Arabia's main stock index closed down on Tuesday, reaching its lowest level since April 7 as market sentiment remains fragile due to the unpredictability of U.S. President Donald Trump's tariffs policy.

The index (.TASI), opens new tab shed 1.30% on Tuesday, underperforming its peers in the Middle East. Healthcare services provider AlMoosa Health Company (4018.SE), opens new tab was the top loser on the index, down 7.29%.

Saudi Aramco (2222.SE), opens new tab is also seeking to raise funds through a dollar-denominated three-part bond sale, with the country's oil giant also exploring potential asset sales to release funds to pursue international expansion as reported last week.

Oil prices were little changed on Tuesday, with Brent crude futures down 28 cents, or 0.4%, at $64.46, on expectations of OPEC+ to increase output at a meeting later this week.

Dubai's main share index (.DFMGI), opens new tab closed up 0.37%, with Amlak Finance (AMLK.DU), opens new tab extending gains and closing up 5.61%. The company announced a board meeting for later this week to discuss asset sales and a potential exit from its real estate finance portfolio. The stock hit its highest level since 2008.

In Abu Dhabi, the benchmark index (.FTFADGI), opens new tab settled up 0.16%.

The Qatari benchmark stock index (.QSI), opens new tab fell 0.78%, with dairy producer Baladna Company (BLDN.QA), opens new tab down 1.28%.

Qatar National Bank (QNBK.QA), opens new tab, the largest bank in the region by assets, closed down 1.10%.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab settled up 1.49% with financial services provider Beltone Financial Holding (BTFH.CA), opens new tab up 6.76% and automotive company GB Auto (GBCO.CA), opens new tab up 6.30%.

Egypt's central bank lowered its overnight interest rates by a less-than-expected 100 basis points last week.