Aramco launches medium-term USD-denominated bonds

Details

Issuance Type

The bonds will constitute USD denominated, direct, general, unconditional and unsecured obligations of Saudi Aramco.

Issuance Value

Subject to market conditions.

Issuance Start Date

July 9, 2024

Issuance End Date

July 17, 2024

Targeted Class

Institutional investors (qualified investors in the jurisdictions in which the offering will be made in accordance with the rules and regulations of such jurisdictions).

Issuance Managers

Citi, Goldman Sachs International, HSBC, J.P. Morgan, Morgan Stanley and SNB Capital as active joint bookrunners.

Abu Dhabi Commercial Bank, SNB Capital, Bank of China, BofA Securities, BSF Capital, Emirates NBD Capital Limited, First Abu Dhabi Bank, GIB Capital, Mizuho, MUFG, NATIXIS, Riyad Capital, SMBC Nikko and Standard Chartered Bank are passive joint bookrunners.

Minimum Subscription

$200,000 and integral multiples of $1,000 in excess thereof, subject to market conditions.

Offer Price

Subject to market conditions.

Par Value

$200,000

Return

Subject to market conditions.

Maturity

Subject to market conditions.

Terms of Redemption

Redemption on maturity; redemption following an event of default; redemption for tax reasons (at the option of Aramco); issuer call (at the option of Aramco); issuer maturity par call (at the option of Aramco); make whole call (at the option of Aramco); investor put (at the option of noteholders); and change of control put (at the option of noteholders), each to be determined subject to market conditions.