DUBAI Oil giant Saudi Aramco is starting on Wednesday a series of fixed income investor meetings ahead of its first riyal-denominated sukuk issue, banking sources told Reuters.
There was no indication on the planned size of the debt sale in the notification which Aramco sent to investors, the sources said. Bankers told Reuters in February that they expected a deal of roughly 3 to 6 billion riyals ($805 million to $1.6 billion).
The sukuk could be issued as early as next week, the sources said on Wednesday.
Alinma Investment, HSBC Saudi Arabia, NCB Capital and Riyad Capital are lead managers on the transaction.
(Reporting by Davide Barbuscia; Editing by Andrew Torchia)