April 1, 2019 / 4:52 AM / 3 months ago

Saudi Aramco hires banks ahead of debut multi-tranche dollar bond - document

DUBAI, April 1 (Reuters) - Saudi Aramco, the world’s top oil producer, has hired banks ahead of a planned multi-tranche debut dollar bond issue, according to a document issued by one of the banks leading the deal and seen by Reuters.

Aramco obtained credit ratings of A1 by Moody’s and A+ by Fitch ahead of the planned bond.

It plans a 144a/Reg S bond with maturities that may range from three to 30 years. It will start meeting bond investors this week in a “roadshow” that will visit Singapore, London, Hong Kong, Tokyo, New York, Los Angeles, Boston and Chicago.

JP Morgan and Morgan Stanley have been hired as joint global coordinators, and as bookrunners together with Citigroup, Goldman Sachs, HSBC and NCB Capital. (Reporting by Davide Barbuscia; Editing by Tom Hogue)

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