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Before opening the books on Monday, Aramco's first international bond sale had already attracted a demand of more than $ 30 billion, the Saudi energy minister said on Monday. Khalid al-Falih, speaking at the Gulf Intelligence Saudi Arabia Energy Forum in Riyadh.
It was thought that market participants were so eager to buy bonds that they were willing to risk ending up with a lower yield than Saudi sovereign debt, Reuters reported, citing people close to the market. folder.
Aramco markets the new bonds at a price comparable to that of the Saudi government bonds.
Earlier this month, Aramco received Fitch's "A +" rating and Moody's "A1" rating in its very first credit rating, after 2018 earnings surpassing those of major oil companies international.
Saudi Arabia has already had tremendous success in its recent breakthrough on the bond market: it issued $ 7.5 billion of sovereign bonds in January, which earned it an impressive order of 27 million dollars. billions of dollars.
Saudi Arabia enjoys "A1" and "A +" ratings from Moody's and Fitch's, respectively, a sign of reliability and low risk for investors.
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