The largest oil producer in the world, Saudi Aramco, successfully Secures $6 billion via the offering of its first bond in three years, which attracted an astounding $33 billion in orders.
According to Aramco’s announces, the senior unsecured bonds were issued under its Global Medium Term Note Programme and were valued in US dollars. Three $2 billion tranches with maturities of 10, 30, and 40 years each were included in the deal. The notes, which were valued on July 10, are currently traded on the London Stock Exchange.
Read also- China-Based ICleague Raises Undisclosed Amount in Series B Round Funding
Aramco had planned to raise $5 billion, but because of the tremendous interest from investors, they decided to raise $6 billion instead. It has not issued a bond since raising $6 billion from foreign investors in 2021.
Read also- Israel-Based JaxBio Technologies Raises $2.73 Million in Funding
Based on the initial $5 billion target, the bond sale was more than six times oversubscribed, indicating, according to the business, “strong demand from a diverse base of investment-grade focused institutional investors.”
About Aramco
Aramco is a leading producer of energy and chemicals that drive global business and improve people’s lives by supplying energy to the world regularly.
