DUBAI: Saudi Aramco has raised 11.25 billion riyals ($3.00 billion) in its debut sukuk issuance, sources familiar with the matter said on Wednesday.
The Islamic bond, part of a 37.5 billion riyal programme, is the oil giant’s first fundraising exercise aimed at diversifying its revenues, impacted by low international oil prices.
The floating rate local currency sukuk has a seven-year maturity and offers 25 basis points over the six-month Saudi Arabian Interbank Offered Rate (SAIBOR). — Reuters
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