Saudi Aramco Plans Multi-Billion-Dollar Bond Issue

Saudi Arabia’s oil giant Aramco plans to issue U.S.-denominated bonds, with the exact amount subject to market conditions, the world’s largest oil-producing company said on Monday, as it has doubled down on paying huge dividends amid profit slumps. Citi, Goldman Sachs International, HSBC, J.P. Morgan, Morgan Stanley, and NCB Capital will be underwriters of the upcoming bond issue, which will be in several tranches with a maturity of 3, 5, 10, 30 and/or 50 years, subject to market conditions, Aramco said in a filing with the Saudi stock…