RIYADH: Saudi Aramco has launched a new international sukuk offering, with a minimum subscription of $200,000, as the state oil giant seeks to re-tap global debt markets.
The sukuk, issued under SA Global Sukuk Ltd.’s Trust Certificate Issuance Program, will be dollar-denominated and constitute direct, unsubordinated, unsecured, and limited-recourse obligations, according to a filing on the Saudi Exchange.
The subscription period runs from Sept. 10-17, with the size, pricing, maturity, and return to be set subject to market conditions. Investors may participate in increments of $1,000 beyond the $200,000 minimum.
Aramco plans to use proceeds for general corporate purposes, in line with its broader strategy of sustaining financial flexibility and operational efficiency. The securities are aimed at qualified institutional investors in the jurisdictions where they are marketed.
The sale comes after the company filed a fresh sukuk prospectus with the London Stock Exchange in May, giving it time to tap markets. That move followed a $5 billion three-part conventional bond deal earlier this year.
