Saudi Aramco Raises USD 6 Billion Worth of Sukuk in Inaugural USD-Denominated Sukuk Issuance 

Saudi Arabian Oil Company (Saudi Aramco) has sold USD 6 billion worth of Sukuk in its first USD-denominated Sukuk issuance, which took place on the 9th of June 2021. The energy company sold the Sukuk in three tranches comprising of USD 1 billion in a three-year tranche, USD 2 billion in a five-year tranche and USD 3 billion in a 10-year tranche. The deal attracted combined orders in excess of USD 60 billion, according to people familiar with the transaction, as reported in media.

Why it Matters?

According to an earlier Tadawul statement, proceeds from the Sukuk will go towards general corporate purposes of Saudi Aramco, and will likely enable the company to fulfil its USD 75 billion payment in dividends that was pledged to gather support at the time...