HONG KONG, June 9 (Reuters) - Saudi Aramco
launched its first US.dollar-denominated sukuk bond on Wednesday
which will be issued in three tranches, according to a term
sheet seen by Reuters.
The deal will consist of three, five and ten year tranches,
the term sheet showed.
Potential investors have been given pricing guidance for the
three year of U.S. Treasuries plus 105 basis points, for the
five year of U.S. Treasuries plus 125 basis points and for the
ten year of U.S. Treasuries plus 160 basis points.
Aramco chose to issue Islamic bonds over conventional ones
due to high demand for the instrument as a result of few dollar
sukuk sales from the Gulf this year, a source told Reuters on
The final terms and size of the transaction are expected to
be set on Wednesday.
Aramco has been widely expected to become a regular bond
issuer after its debut $12 billion bond deal in 2019 was
followed by an $8 billion, five-part transaction in November
last year, also used to fund its dividend.
There are 29 active and passive bookrunners on the deal, the
term sheet showed.
(Reporting by Scott Murdoch in Hong Kong; Editing by Edwina