Aramco Sells $6 Billion of Dollar-Denominated Islamic Bonds
- Order books for the three-part sale exceeded $60 billion
- Firm is raising cash to help pay out billions in dividends
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Saudi Aramco, the world’s biggest energy company, sold $6 billion of bonds Wednesday in its first dollar-denominated Islamic bond sale.
The state-controlled company sold sukuk due in three, five and 10 years, and the longest portion will yield 120 basis points above Treasuries, according to a person familiar with the matter. That’s down from initial discussions of around 160 basis points.