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  • 09-06-21

    Saudi Aramco inaugurates its first US.dollar-denominated sukuk bond

    (MENAFN)A term sheet seen by Reuters stated that Saudi Aramco inaugurated its first US.dollar-denominated sukuk bond that will be issued in three tranches.

    The term sheet further declared that the deal will consist of three, five and ten year tranches.

    Potential investors were given pricing guidance for the three year of US Treasuries plus 105 basis points, for the five year of US Treasuries plus 125 basis points and for the ten year of US Treasuries plus 160 basis points.

    Reuters quoted a source as saying that Aramco chose to issue Islamic bonds over conventional ones due to high demand for the instrument because of few dollar sukuk sales from the Gulf in 2021.

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