INSIGHT: Saudi Aramco raises $12bn from maiden bond issue

摘要

SINGAPORE(ICIS)--Saudi Aramco,the world’s biggest oil exporter,has raised $12bn via its first bond issue,which generated an unprecedented strong interest from international investors.The planned bond issue size of at least $10bn – which would partly fund its acquisition of petrochemical giant SABIC – was 10 times oversubscribed,with book orders of $100bn.Because it did not actually need the money,the oil major was able to secure favourable terms for the debt issue in spite of a relatively low credit rating for an oil major.The $12bn senior unsecured notes are divided into five tranches of varying sizes and tenors.