Aramco disburses in full international trust certificates for $6 billion sukuk

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Energy giant Saudi Aramco posted Sunday an 82 percent jump in first quarter profits.
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  • The company issued 30,000 sukuk with a par value of $200,000 each

  • The sale, launched on June 9, was Aramco’s first dollar-denominated sukuk

The Saudi oil giant, Aramco, has said that it completed disbursing international trust certificates for $6 billion of sukuk. The company issued 30,000 sukuk with a par value of $200,000 each, it said in a filing to the Tadawul stock exchange.

“The outcome demonstrates further evidence of Aramco’s unique value proposition, which is underwritten by its operational and financial resilience,” said Aramco CEO and President Amin Nasser, reported Arab News.

The securities were issued in three tranches, with the three-year notes paying 0.946 percent, 5-year notes at 2.602 percent and 10-year bonds 2.694 percent. The sale, launched on June 9, was Aramco’s first dollar-denominated sukuk.

Aramco’s debut $12 billion bond deal in 2019 was followed by an $8 billion, five-part transaction in November last year, both used to fund its dividend. The sale attracted orders exceeding $60 billion and added 100 new investors across the globe, Aramco said.

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