April 4, 2017 / 11:12 AM / 4 months ago

Saudi Aramco extends bookbuilding for debut local currency sukuk -sources

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DUBAI, April 4 (Reuters) - Saudi Aramco has extended the bookbuilding process for its debut local currency sukuk beyond the original deadline of April 3, sources familiar with the matter said on Tuesday.

Books will stay open for one day more, one of the sources said.

The oil giant started gathering orders for its first sukuk issuance - part of a 37.5 billion riyal ($10 billion) programme - on March 27, a document issued by the banks leading the transaction showed.

The floating rate Islamic bond has a seven-year maturity and offers 25 basis points over the six-month Saudi Arabian Interbank Offered Rate (SAIBOR).

$1 = 3.7500 riyals Reporting by Davide Barbuscia; editing by Jason Neely

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