Saudi Aramco intends to issue international bonds under its Global Medium Term Note Program.
According to Arabiya Net, the company clarified that the issuance of dollar bonds in US dollars will be priority, and not guaranteed by the assets of the offering value, provided that the value of the offering is determined according to market conditions .
The net proceeds from each bond issue will be used for Saudi Aramco general purposes or for any other purpose specified in the final terms of a series of bonds.
and appointed Aramco (JP Morgan) and (Morgan Stanley) as regulators and distributors under the Global Medium Term Note Program in addition to ( Citigroup), (Goldman Sachs International), (HSBC) and (AlAhli Capital) as distributors. The organizers and distributors will organize a series of meetings with fixed income investors starting Monday.
The company added in a statement to Tadawul that the offering is subject to the approval of the official authorities, and it will also be offered in accordance with the provisions of Rule 144-A and (Regulation S) of the Securities Law issued In the United States of America for the year 1933 AD, according to his amendments. The stability rules of the UK Financial Conduct Authority (FCA) and the International Financial Market Corporation (ICMA) will also apply to the offering. An application to accept the bonds will be made on the official listing of the UK Financial Conduct Authority and the London Stock Exchange. And to accept these bonds for trading on the London Regular Financial Market.
It should be noted that the offering of these bonds will be limited to qualified investors in the countries in which the offering will take place, in accordance with the laws and regulations in force in those countries.
>
