AI Summary
Logo of Saudi Aramco
Saudi Aramco announced the successful completion of a $4 billion bond issuance across four tranches under its Global Medium Term Note Program worth $4 billion.
|
Issuance Type |
US dollar-denominated obligations, direct, public, unconditional, and unsecured by assets of Saudi Aramco. |
|
Issuance Value |
$4 bln |
|
Total No. of bonds |
20,000 |
|
Nominal Value |
$200,000 and integral multiples of $1,000 in excess thereof. |
|
Return |
4% for bonds maturing in 3 years, 4.375% for bonds maturing in 5 years, 5% for bonds maturing in 10 years, and 6% for bonds maturing in 30 years. |
|
Maturity |
3, 5, 10 and 30 years |
|
Redemption Terms |
Redemption at maturity; redemption following the occurrence of an Event of Default; redemption upon the occurrence of a Tax Event at the option of Saudi Aramco; Issuer Maturity Par Call at the option of Saudi Aramco; Issuer Make-Whole Call at the option of Saudi Aramco; and a Change of Control Put available to bondholders at their option. |
In a statement on Tadawul today, Feb. 3, Aramco said the bonds will be offered pursuant to Rule 144A and Regulation S under the US Securities Act of 1933, as amended. The offering will also be subject to the stabilization rules of the UK Financial Conduct Authority (FCA) and the International Capital Market Association (ICMA).
Applications will be made for the bonds to be admitted to the Official List of the FCA and to trading on the London Stock Exchange, as well as for admission to trading on the LSE’s main market.
According to Argaam data, Saudi Aramco began offering the US dollar-denominated international bonds on Jan. 26, under its international medium-term note program.
Be the first to comment
Comments Analysis: