ECONOMY | Saudi Aramco Plans Debt Market Comeback With Multi – Tranche Bond Deal

Saudi Aramco said on Monday it had hired banks for a multi – tranche U.S. dollar – denominated bond issuance, as the world’s largest oil company seeks cash amid lower oil prices.

Gulf issuers have shown no sign of slowing this year’s blitz of issues on international debt markets as they work to plug issues on international debt markets as they work to plug finances hit by weaker oil prices and the coronavirus crisis.

Issuance from the region so far this year have already shot through 2019’s record, again surpassing $100 billion.

Goldman Sachs, Citi, HSBC, JPMorgan, Morgan Stanley and NCB Capital were hired to arrange investor calls starting on Monday before the planned transaction, Aramco said in a bourse filing.

Other banks involved in the deal include BNP Paribas, BOC International, BofA Securities, Credit Agricole, First Abu Dhabi Bank, Mizuho, MUFG, SMBC Nikko and Society Generale, a document issued by one of the banks on the deal showed.

The oil giant, which made its debut in the international debt markets last year by raising $12 billion after receiving more than $100 billion in orders, did not detail the size of the latest proposed issuance.

It planned a benchmark multi – tranche offering consisting of tranches for three, five, 10, 30 and/or 50 years, subject to market conditions, the document said. Benchmark bonds are generally at least $500 million per tranche.

‘The backdrop is supportive’, said a debt banker on the deal, citing a $1 billion Islamic bond issuance last week from Dubai Islamic Bank, which achieved record low yields.

Aramco needs cash to pay $37.5 billion in dividends for the second half 2020 and to fund its $69.1 billion acquisition of 70$ of Saudi Basic Industries (SABIC), paid by installments until 2028. It raised a $10 billion loan this year.

BREAKING NEWS | Saudi Crown Prince, British PM Discuss Boosting Cooperation

Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, held telephone talks on Tuesday with British Prime Minister Boris Johnson. Discussion focused on way to boost cooperation between their countries. The British premier also congratulated Crown Prince Mohammed bin Salman on Saudi Arabia’s successful hosting of the G20 Leaders Summit.

TRAVEL | German States Plan To Relax Virus Rules For Christmas

Germany’s 16 federal states plan to allow gatherings of up 10 people over Christmas and New Year, offering some relaxation of coronavirus restrictions to led families and friends celebrate together, a draft proposal showed on Tuesday. Leaders have also agreed to  dramatically boost capacity on state-owned railway Deutsche Bahn through the winter months, effectively making … Continue reading TRAVEL | German States Plan To Relax Virus Rules For Christmas

BREAKING NEWS | Twin Blast In Afghan Province Of Bamiyan Kill 14 People, Injure 45 Officials

KABUL – Twin explosion in the central Afghan province of Bamiyan killed at least 14 people and wounded 45 more, provincial official said on Tuesday, as the international community pledged assistance for Afghanistan at a conference in Switzerland. The two bomb, hidden at the side of a road in a main bazaar in Bamiyan city, … Continue reading BREAKING NEWS | Twin Blast In Afghan Province Of Bamiyan Kill 14 People, Injure 45 Officials

BREAKING NEWS | Saudis Tells U.N. That Houthis To Blame For Aramco Attack

NEW YORK – Saudi Arabia told the U.N. Security Council that Yemen’s Houthi group were to blame for a missile attack on a petroleum products distribution plant in Jeddah in Monday, urging the 15-member body to ‘stop the threat’ to global energy security, Yemen’s political process and regional security. ‘It has been identified that the … Continue reading BREAKING NEWS | Saudis Tells U.N. That Houthis To Blame For Aramco Attack

TRAVEL | Qantas Become First Airline To Require Passengers To Get Covid-19 Vaccine Before

Getting a Covid-19 vaccines could soon be a requirement to travel internationally, with one major airline already saying that vaccination will become a ‘necessity’ to set foot on its aircraft in the future, while become a ‘necessity’ to set foot on its aircraft in the future, while a project led by air industry trade body … Continue reading TRAVEL | Qantas Become First Airline To Require Passengers To Get Covid-19 Vaccine Before

NEWS ALERT | Kuwait’s Emir Congratulates Saudi Arabia On Success of the G20 Summit.

Kuwait’s Emir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah has congratulated Custodian of the Two Holy Mosques King Salman on the success of G20 Leader’ Summit presided over by Saudi Arabia. Sheikh commended the summit’s distinguished organization that contributed to reaching constructive decision and fruitful recommendations, especially with regard to strengthening international cooperation to confront the coronavirus … Continue reading NEWS ALERT | Kuwait’s Emir Congratulates Saudi Arabia On Success of the G20 Summit.

BREAKING NEWS | Arab Coalition: Iran – Backed Houthis Behind Cowardly Jeddah Terrorist Attack

The Saudi-led Arab coalition announced on Monday that the Iran-backed Houthi militias in Yemen were behind the ‘cowardly terrorist’ attack against an oil facility in Jeddah. Coalition spokesman Colonel Turki Al-Malki said that the attack ‘not only targets Saudi Arabia’s national capabilities, but the global economy and its energy supplies and security’. Monday’s attack on … Continue reading BREAKING NEWS | Arab Coalition: Iran – Backed Houthis Behind Cowardly Jeddah Terrorist Attack

BREAKING NEWS | Yemen’s Hothis Says They Fired Missile At Saudi Aramco Site In Jeddah

RIYADH – – Yemen’s Iran-aligned Houthi group on Monday said it fired a missile at a distribution station operated by the Saudi Aramco oil company in Saudi Arabia’s Red Sea city of Jeddah and struck it. There was no immediate Saudi confirmation of the claim made by the group’s military spokesman, who warned foreign companies … Continue reading BREAKING NEWS | Yemen’s Hothis Says They Fired Missile At Saudi Aramco Site In Jeddah

BREAKING NEWS | Saudi Arabia’s Crown Prince Discusses Latest Middle East Development with US’ Pompeo

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Saudi Crown Prince Mohammed Bin Salman said Sunday that in the light of the coronavirus outbreak, cooperation among G20 countries has been important more than ever. ‘In light of the outbreak of Covid-19 and its health, economic, and social repercurssion, our cooperation has been important more than ever. Together we have addressed this challenge with … Continue reading BREAKING NEWS | Saudi Crown Prince at G20 Summit: ‘Our Strength Lies In Our Unity’

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The coronavirus pandemic has been an unprecedented shock for the world in an extraordinary year, Saudi Arabia’s King Salman bin Abdulaziz said during his G20 Riyadh Summit opening remarks , which he delivered virtually on Saturday evening. ‘The COVID-19 pandemic has been an unprecedented shock  that affected the entire world within a short period of … Continue reading BREAKING NEWS | Saudi Arabia’s King Salman Urged G20 Cooperation on COVID-19 Crisis, Sustainability

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