Saudi Aramco Hires Banks for Debut Dollar Islamic Bond Sale
- Plans 3-part deal, with maturities ranging from 3 to 10 years
- Firm is raising cash to help pay out billions in dividends
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Saudi Aramco, the world’s biggest energy company, hired advisers including Citigroup Inc. and Goldman Sachs Group Inc. for its first dollar-denominated Islamic bond sale.
The state-controlled company may offer three tranches of notes due in three, five and 10 years, according to a person familiar with the matter. Islamic bonds, or sukuk, comply with the religion’s teachings, including its ban on interest.