Saudi Aramco’s latest foray into the capital markets, a dual-tranche $3 billion sukuk, rounds off a year in which the energy giant engaged conventional and Islamic investors alike. Coming on the heels of its conventional bond sale in July 2024, the transaction addressed demand for long-dated paper while exploiting the scarcity value of AAOIFI-compliant instruments.
The company split the deal evenly between five- and ten-year certificates, each sized at $1.5 billion and priced at T+85 and T+100 basis points, respectively.
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