Saudi Arabia has lined up 15 banks to manage new multi-billion dollar bond offerings for its flagship oil and gas company, Aramco, according to a number of domestic and international banking and oil industry sources spoken to by OilPrice.com last week. The new debt issues will comprise either conventional or Islamic bonds – most likely a combination of both – totalling at least US$5 billion but at least double that if the bidding for the paper allows for more to be issued at a reasonable coupon.
The obvious question for those who do…How Aramco Plans To Cover Its Unsustainable Dividend
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