Saudi Aramco is likely to issue a bond this year and will prioritise longer tenures of up to 50 years, Chief Financial Officer Ziad Al-Murshed said on Monday.
Saudi Arabia is poised to sell more shares of energy giant Aramco © Mena Today
Saudi Aramco is likely to issue a bond this year and will prioritise longer tenures of up to 50 years, Chief Financial Officer Ziad Al-Murshed said on Monday.
The planned issuance is part of a strategy to optimise the company's capital structure, Al-Murshed told an audience at the Saudi Capital Markets Forum in Riyadh.
Aramco last tapped global debt markets in 2021, when it raised $6 billion from the sale of a three-tranche sukuk, or Islamic bond.
Asked about reports of a planned follow-on share sale by Aramco, whose biggest shareholder is the Saudi government, Al-Murshed said he could not comment as it was not the company's "decision as to the sale of existing government shares".
Saudi Arabia is poised to sell more shares of energy giant Aramco, three people familiar with the matter told Reuters earlier this month, which could boost the country's funding and its aim to shift the economy away from oil.
The share sale could raise about $20 billion, according to Bloomberg, which first reported the news. Saudi Aramco has not confirmed the figure.
Aramco completed the world’s largest initial public offering in late 2019, raising $25.6 billion and later selling more shares to raise the total to $29.4 billion.
Reporting by Alexander Cornwell and Pesha Magid
Saudi Arabia ordered an Iranian diplomat and three members of his team to leave the country Saturday, as the Kingdom continues to absorb Iranian missile strikes launched in retaliation for the US-Israeli military campaign against Tehran.
Qatar's Energy Minister Saad Sherida Al-Kaabi announced Friday that Iranian attacks on the country's energy infrastructure would reduce liquefied natural gas (LNG) export capacity by 17%, resulting in estimated annual revenue losses of $20 billion.
Saudi Arabia reserves the right to act militarily against Iran and any trust with Tehran has been shattered, the Saudi foreign minister said early on Thursday, after Riyadh was targeted by Iranian ballistic missiles.
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