Saudi energy minister expects Aramco bond demand above $30 billion

The move can be designed to help raise funds for a down payment on the oil giant’s $69.1 billion purchase of a majority stake in Saudi petrochemicals firm Sabic.

Aramco, the planet’s top oil producer, earlier This kind of month received an “A+” rating via Fitch along with an “A1” rating via Moody’s in its first ever credit ratings, following 2018 earnings that will dwarfed those of international oil majors.

Saudi Arabia has already seen formidable success in its recent tapping of the bond market: that will issued $7.5 billion in sovereign bonds in January which drew an impressive $27 billion in orders. Saudi Arabia has “A1” along with “A+” ratings via agencies Moody’s along with Fitch, respectively, a sign of reliability along with low risk for investors.

—Reuters contributed to This kind of report.