First Brands Group debt targeted by Apollo Global Management - report
LONDON - Saudi Arabian Oil Company (Saudi Aramco) is preparing to issue a benchmark-sized dual-tranche sukuk offering through SA Global Sukuk Limited, according to a pre-stabilization notice released Wednesday.
The Islamic bond offering will consist of two tranches: one with a maturity date of September 17, 2030, and another maturing on September 17, 2035. Both will carry fixed rates, though the offer prices have not yet been determined.
HSBC Bank plc will serve as the stabilization coordinator, alongside multiple stabilization managers including Al Rajhi Capital Company, Citi, Dubai Islamic Bank, First Abu Dhabi Bank, Goldman Sachs International, J.P. Morgan, KFH Capital, and Standard Chartered Bank.
The stabilization period is expected to begin on September 10, 2025, and end no later than October 17, 2025. The notice indicates that stabilization managers may over-allot securities up to 5% of the aggregate nominal amount or conduct transactions to support the market price.
The sukuk has not been registered under the United States Securities Act of 1933 and will not be offered for sale in the United States. The offering is primarily directed at qualified investors outside the UK or those within the UK who have professional experience in investment matters.
This information is based on a pre-stabilization notice issued through the London Stock Exchange’s news service.
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