An international bond of “Saudi Aramco” worth $ 8 billion

An international bond of “Saudi Aramco” worth $ 8 billion

A possible offering of “chemicals” activity in “SABIC” for public subscription

Riyadh: «Middle East»

Saudi Aramco announced yesterday the completion of the issuance of international bonds under its medium-term international bond program, explaining that 40,000 bonds have been offered with a nominal value of $ 200,000, bringing the value of the offering to $ 8 billion, with a variety of maturities, the lowest of which is 3 years and the most remote maturing after 50 years.
In a statement by the Saudi Stock Exchange, Tadawul, she indicated that the yield is 1.25 percent for bonds maturing within 3 years, 1.6 percent for bonds maturing within 5 years, 2.2 percent for bonds maturing within 10 years, and 3.2 percent for bonds maturing. Within 30 years, and 3.5 percent of the bonds maturing within 50 years.
Aramco pointed out that the conditions for eligibility to redeem include redemption on maturity, early redemption, change of control and the option to purchase the source, indicating that the bonds were offered in accordance with the provisions and rules of the United States Securities Act of 1933, according to its amendments.
The stability rules of the British Financial Conduct Authority (FCA) and the International Financial Market Corporation will apply to the offering, and an application will also be submitted to accept the bonds on the official list of the British Financial Conduct Authority and the London Stock Exchange, in order to accept these bonds for trading on the London Regular Stock Exchange.
On the other hand, an official at the Ministry of Energy confirmed that the terrorist attack on a fuel tank at the petroleum products distribution station in north Jeddah did not cause any loss of oil products, indicating that the station was restored shortly after the attack. According to satellite statements by Fahd Al-Tarif, an advisor to the Minister of Energy, the kingdom has a robust supply network designed in a flexible manner.
On the other hand, sources revealed to “Bloomberg” agency that “SABIC” is considering offering the company’s chemical activity, which is estimated at billions of dollars, for public subscription, confirming that the company is currently in talks with consultants to study the offering, which is expected to be early From 2021.
SABIC information in 2016 indicates that responsibilities for core products in the Innovative Plastics Strategic Business Unit and the Innovative Plastics Strategic Business Unit and the Specialized Chemicals Unit are transferred to the Polymers and Chemicals Strategic Business Units.

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