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Saudi Aramco Attracts $100 Billion Demand for Bond Deal

Source: www.gulfoilandgas.com 4/9/2019, Location: Middle East

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.

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.

Having swelled to over $100 billion during the sale process, demand appeared to be the largest ever for emerging markets bonds, fund managers said, surpassing order book value of more than $52 billion for Qatar’s $12 billion deal last year, $67 billion for Saudi Arabia’s inaugural issue in 2016 and $69 billion orders for Argentina’s $16.5 billion trade that year.

The issue has attracted interest from a wide range of investors, as the oil producer's vast profits would put its debt rating - if unconstrained by its sovereign links - in the same league as independent oil majors like Exxon Mobil and Shell.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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