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Saudi Arabian Oil Co. (Saudi Aramco) started the issuance of international bonds under its Global Medium Term Note Program.
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The issuance value and maturity are subject to market conditions, the company said in a statement to Tadawul today, July 9.
The table below indicates the details of the offering:
|
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. |
According to data compiled by Argaam, Saudi Aramco announced today its intention to issue international USD-denominated bonds pursuant to its Global Medium Term Note Programme. These bonds will be senior unsecured notes.
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