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Saudi Aramco completes issuance of $5B international bonds
Saudi Arabian Oil Co. (Saudi Aramco) completed the issuance of $5 billion international bonds under its Global Medium-Term Note (GMTN) Programme, according to a statement to Tadawul.
The US dollar-denominated bonds represent direct, general, unconditional, and unsecured obligations of Aramco.
| Details | |
| Issuance Type | USD-denominated, direct, general, unconditional and unsecured obligations of Saudi Aramco |
| Issuance Value | $5 bln |
| Number of Bonds | 25,000 |
| Par Value | $200,000 and integral multiples of $1,000 in excess thereof |
| Maturity | 5, 10, and 30 years |
| Tranches | - $1.5 billion senior notes maturing in 2030 with a coupon rate of 4.750%; - $1.25 billion senior notes maturing in 2035 with a coupon rate of 5.375%; and - $2.25 billion senior notes maturing in 2055 with a coupon rate of 6.375%. |
| Terms of Redemption | Redemption on maturity, following an event of default, for tax reasons (at the option of Saudi Aramco); issuer maturity par call (at the option of Saudi Aramco); make whole call (at the option of Saudi Aramco); and change of control put (at the option of noteholders) |
The statement added that the bonds will be issued in accordance with Rule 144A/Reg S offering requirements under the US Securities Act of 1933, as amended. The stabilization rules of the Financial Conduct Authority (FCA) and the International Capital Market Association (ICMA) will also apply to the issuance.
Applications will be made for the bonds to be admitted to the official list of the FCA and to the London Stock Exchange plc and for such bonds to be admitted to trading on the London Stock Exchange’s main market.
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