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SAUDI ARABIAN OIL COMPANY

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Saudi Aramco expected to raise $6 billion as bond orders top $55 billion

06/09/2021 | 11:01am EDT
FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq

DUBAI (Reuters) - Saudi Arabian oil group Aramco is expected to raise $6 billion on Wednesday as the company returned to the international debt markets with its first U.S. dollar-denominated Islamic bond sale comprising three tranches, a document showed.

Pricing guidance on the Islamic bond or sukuk tightened to around 70 basis points (bps) over U.S. Treasuries (UST) for a three-year tranche, around 90 bps over UST for a five-year tranche and around 125 bps over UST for a 10-year tranche, all plus or minus 5 bps, the document from one of the banks on the deal showed.

Orders on the sale, which is expected to close later on Wednesday, topped $55 billion.

Initial guidance was around 105 bps over UST for the three-year bonds, around 125 bps over UST for the five-year notes and around 160 bps over UST for the 10-year tranche.

(Reporting by Yousef Saba. Editing by Jane Merriman)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL -0.49% 74.5 Delayed Quote.42.48%
SAUDI ARABIAN OIL COMPANY -0.14% 35.25 End-of-day quote.0.71%
WTI -0.49% 72.7 Delayed Quote.49.08%
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Financials
Sales 2021 1 307 B 349 B 349 B
Net income 2021 352 B 93 988 M 93 988 M
Net Debt 2021 303 B 80 886 M 80 886 M
P/E ratio 2021 20,0x
Yield 2021 4,01%
Capitalization 7 056 B 1 881 B 1 882 B
EV / Sales 2021 5,63x
EV / Sales 2022 5,33x
Nbr of Employees 79 000
Free-Float 1,76%
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Technical analysis trends SAUDI ARABIAN OIL COMPANY
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 34,65 SAR
Last Close Price 35,30 SAR
Spread / Highest target 13,3%
Spread / Average Target -1,83%
Spread / Lowest Target -32,0%
EPS Revisions
Managers and Directors
NameTitle
Amin bin Hasan Al-Nasser President, CEO & Executive Director
Khalid Hashim Al-Dabbagh Senior VP-Finance, Strategy & Development
Yasir bin Othman Al-Rumayyan Chairman
Ahmad Abdul Rahman Al-Sa'adi Senior Vice President-Technical Services
Ziad Thamer Al-Murshed Vice President-International Operations
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