Saudi Aramco raises $6 billion in debut Islamic bond sale ...Kuwait

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Saudi Aramco raises $6 billion in debut Islamic bond sale
source : The New Arab ( Kuwait ) () 23
Saudi Aramco on Thursday said it raised $6 billion from its first dollar-denominated Islamic bond sale, as the energy giant seeks capital to fund its hefty dividend payments. The three-tranche sukuk, or Islamic bonds compliant with the Muslim faith, are due in three, five and 10 years, the company said in a statement. Aramco "successfully raised $6 billion, following the sale of US dollar-denominated sharia-compliant securities to leading institutional investors", the statement said. The sale comes after two previous bond offerings that were not compliant with Islamic law - a debut $12 billion sale in 2019 and an $8 billion offering in November last year. The company

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