Oil Giant Saudi Aramco to Issue First Global Bond This Year
- Saudi Aramco aims to sell dollar bonds to fund Sabic purchase
- Riyadh says Aramco will disclose accounts with bond prospectus
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Saudi Aramco plans to tap the debt market in the second quarter to finance the acquisition of petrochemical giant Sabic, likely issuing its first ever international bond and disclosing its accounts in the process.
Saudi Arabian Energy Minister Khalid Al-Falih revealed the plan on Wednesday in Riyadh, adding the company wanted flexibility in funding the Sabic deal, which could cost about $70 billion.