KSA | Aramco Breaks Record As Demand For Its Bond Tops $85 Billion

Orders for Saudi Aramco’s debut international bonds topped $85 billion, a record breaking vote of market confidence for the oil giant despite some investor concerns about government influence over the company.

State-owned Aramco was expected to raise around $10billion from the deal, which will be priced later on Tuesday and is seen as a gauge of potential investor interest in the Saudi company’s eventual initial public offering.

Before the six-part bond deal was marketed on Monday, Saudi Energy Minister Khalid Al-Falish said initial indication of interest for the papers were over $30 billion.

Demand for the paper was the largest for emerging markets bond since an orderbook value of more than $52 billion bonds last year, and surpasses %67 billion in demand for Saudi Arabia’s inaugural bonds in 2016.

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