Saudi Aramco, the world’s largest oil company, said on Monday it had raised $5bn in a bond sale as it positions for a downturn in oil prices and prepares for further borrowing.
Aramco said demand for the three sets of bonds it issued in London had been “strong”, with coupons ranging from 4.75 per cent to 6.375 per cent.
The issuance was one of the largest in London so far this year, after the Public Investment Fund, the Saudi sovereign wealth fund, tapped the debt market for $4bn in January, and UK building society Nationwide sold €3.25bn and £1bn of bonds during the first quarter.
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