Saudi Aramco breaks record as demand for its bonds

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Saudi Aramco, the state-owned oil company of Saudi Arabia, placed bonds, hoping to raise about $10 billion to pay for its share in Saudi Basic Industries Petrochemical Corporation. This deal has attracted enormous interest from investors, whose demand for Saudi Aramco bonds reached a record high of 85 billion dollars. Bonds are divided into tranches of securities with maturity of 3, 5, 10, 20 and 30 years. After it was recorded at the very beginning of the excess of investor demand of $30 billion, Saudi Aramco decided to place the bonds with virtually no premium to government bonds in Saudi Arabia. Record demand for the company's bonds showed a high level of market confidence in the Saudi oil giant.

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