Finance
Aramco Seeks at Least $3 Billion From First Bond Sale in Three Years
- Firm looking to refinance debt, fund its investment program
- Bond sale adds to spree of Saudi Arabian issuances this year
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Aramco is looking to raise a minimum $3 billion from its first bond sale in three years, people familiar with the plan said, adding to Saudi Arabia’s debt spree this year.
The world’s biggest oil exporter is offering debt with 10-, 30- and 40-year maturities, according to a person with knowledge of the matter. Meetings with fixed income investors are expected to start Tuesday, the person said, with funds likely to be used to refinance existing borrowings and contribute to its investment program.