Saudi Arabian Oil Company (Saudi Aramco) announced the completion of issuing medium-term international bonds, with a total value of approximately $6 billion, equivalent to 22.5 billion riyals.
The company explained, in a statement to Tadawul today, Thursday, that the total number of bonds amounted to 30 thousand bonds, with a nominal value of $200 thousand, and integrated multiples of $1 thousand in excess of that amount. The maturity period of the bonds is: 10 years, 30 years, and 40 years.
She pointed out that the bond yield is 5.250% for bonds due within 10 years, 5.750% for bonds due within 30 years, and 5.875% for bonds due within 40 years.
She added that the conditions for eligibility for redemption are redemption on the due date; redemption can be made after the occurrence of a default event, and the company may redeem in the event of a tax event (according to Saudi Aramco’s option); call option at par value upon maturity from the issuer.
She pointed out that the conditions also include a full call option, and a redemption option is available to bondholders in the event of a change in control based on the bondholders’ option.
She explained that the bonds will be offered in accordance with the provisions of Rule 144-A and Regulation S of the US Securities Act of 1933, as amended, and the stability rules of the UK Financial Conduct Authority and the International Financial Market Corporation will apply to the offering.
She stated that an application will be submitted to accept the bonds on the official list of the British Financial Conduct Authority and the London Stock Exchange. And to accept these bonds for trading on the main financial market in London.
