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Saudi Aramco’s bond will probably be in 10 billion range: energy minister



FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed/File Photo

ABU DHABI (Reuters) – Saudi Aramco will issue bonds which will probably be in the 10 billion range, Saudi Arabia’s energy minister said on Sunday.

Khalid al-Falih, speaking at a conference in Abu Dhabi, did not specify the currency of the planned debt issuance but last week he said at an event in Riyadh that the bonds – which would be Aramco’s debut in the international debt markets – are likely to be denominated in U.S. dollars.

The Saudi oil giant will issue the bonds in the second quarter of this year, he said last week.

Reporting by Rania El Gamal, writing by Davide Barbuscia