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Saudi Aramco starts meeting investors before debut sukuk issue: sources
March 22, 2017 / 11:02 AM / 8 months ago

Saudi Aramco starts meeting investors before debut sukuk issue: sources

DUBAI (Reuters) - 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.

Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed

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

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