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Aramco's bond is 'only the beginning', Saudi energy minister says

Baku, April 24, AZERTAC

Saudi Aramco, the world’s biggest oil producer, will remain active in the debt markets after its debut $12 billion bond earlier this month, which was “only the beginning”, Saudi Energy Minister Khalid al-Falih said on Wednesday, according to Reuters.

Falih, speaking at a financial conference in Riyadh, also said Aramco would access the equity markets earlier than expected after the company gained exposure among investors through the bond sale.

Many saw the debt deal as a relationship-building exercise with international investors ahead of Aramco’s planned initial public offering, aimed at raising money for the government as Saudi Arabia looks to cut its budget deficit and diversify its economy.

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