Aramco publishes new sukuk issuance prospectus

Logo of Saudi Aramco

Saudi Aramco published a new prospectus for its sukuk issuance program, signaling the state oil major may soon tap the debt markets.

The prospectus, submitted to the London Stock Exchange where the sukuk would be listed, is dated May 30, Reuters reported.

Aramco has a year to issue sukuk under its terms.

The oil giant priced its dollar-denominated three-part bonds at $5 billion and set their yield spread, according to Argaam data.

The net proceeds from each bond issuance will be used by Saudi Aramco for general corporate purposes or any other purpose specified in the final terms for a series of bonds.