Demand for Saudi Aramco's inaugural international bond, which will be issued this week, is higher than $30 billion, Saudi Energy Minister Khalid Al-Falih said on Monday.

 

Saudi Aramco, the world's largest oil company, met investors last week in a global bond roadshow ahead of its planned issuance, which Al-Falih previously said would be in the $10 billion range.

 

The transaction is expected to attract demand from both emerging markets and investment-grade buyers, as although Aramco is state-owned its finances put it in the same league as independent international oil majors like Exxon and Shell.

 

Speaking at the Gulf Intelligence Saudi Energy Forum in Riyadh, Al-Falih said he believed demand for the bond was "north of" $30 billion.

 

The deal will be closed on Wednesday, he added.

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