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Saudis Emerge From Khashoggi Crisis With $85 Billion Bond Orders

  • Oil giant is offering six-tranche debt from three to 30 years
  • Aramco said to receive $85 billion in investor bond orders
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Saudi Aramco has received orders worth $75 billion for its debut bond sale. Bloomberg’s Tracy Alloway reports.(Source: Bloomberg)
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Saudi Aramco, the world’s largest oil company, has received $85 billion in orders for its debut bond sale, an offering where yields may fall in line or below Saudi Arabia’s sovereign debt.

It’s rare for bonds of a state-owned company to pay less than the sovereign debt and the demand reflects intense investor appetite for high-quality paper. For Saudi Arabia and Aramco itself, the early success in selling the bonds marks a tremendous turnaround after investors, Wall Street bankers and corporate titans briefly shunned the kingdom last year following the assassination of journalist Jamal Khashoggi.