Dubai: Saudi Aramco said on Monday it had hired banks for a multi-tranche U.S. dollar-denominated bond issuance, as the world’s largest oil company seeks cash amid lower oil prices.
Gulf issuers have shown no sign of slowing this year’s blitz of issues on international debt markets as they work to plug finances hit by weaker oil prices and the coronavirus crisis.
Issuances from the region so far this year have already shot through 2019’s record, again surpassing $100 billion.
Goldman Sachs, Citi, HSBC, JPMorgan, Morgan Stanley and NCB Capital were hired to arrange investor calls starting on Monday before the planned transaction, Aramco said in a bourse filing.
