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Monday, April 24, 2017
Saudi Aramco has raised 11.25 billion riyals (US$3 billion) in its debut Sukuk issuance, sources familiar with the matter said on Wednesday. The Islamic bond, part of a 37.5 billion riyal (US$10 billion) program, is the oil giant’s first fundraising exercise aimed at diversifying its revenues, impacted by low international oil prices.The floating rate local currency Sukuk has a seven-year maturity and offers 25 basis points over the six-month Saudi Arabian Interbank Offered Rate (SAIBOR).
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