Home / World News / Saudi Aramco gets $8 billion with jumbo five-part bond deal: Report

Saudi Aramco gets $8 billion with jumbo five-part bond deal: Report

The move is part of an onslaught on international debt markets by Gulf issuers seeking to plug finances hit by the pandemic and weak oil prices

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Aramco reported a 44.6% slump in third-quarter profit

3 min read Last Updated : Nov 18 2020 | 1:29 AM IST

Saudi Aramco was set to raise $8 billion from a five-part bond deal on Tuesday as the world's largest oil producer seeks cash after low oil prices dented its finances.

It received $48.1 billion in orders for the debt sale, less than half what it drew for its debut bond sale last year, when it raised $12 billion, a document issued by one of the banks leading the deal showed. The move is part of an onslaught on international debt markets by Gulf issuers seeking to plug finances hit by the pandemic and weak oil prices, which has pushed regional issuance

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