Aramco to sell $6bn of dollar-denominated Islamic bonds

Aramco to sell $6bn of dollar-denominated Islamic bonds

Saudi Aramco, the world's biggest energy company, is selling $6 billion of bonds in its first dollar-denominated Islamic bond sale.

The state-controlled company is offering sukuk due in three, five and 10 years, and the longest portion may yield around 125 basis points above Treasuries, according to a person familiar with the matter. That's down from initial discussions of around 160 basis points

Order books for the sale are in excess of $55 billion, said the person, who asked not to be identified as the details are private.