Aramco said to plan bond sale to help fund $75bn dividend

Aramco said to plan bond sale to help fund $75bn dividend

RIYADH: Saudi Aramco is preparing to return to global capital markets with a bond that would help fund a $75 billion dividend commitment, Bloomberg reported citing people with knowledge of the plan. The world's biggest energy company has picked around 15 banks to manage a sale of Islamic debt, or sukuk, that could happen this month, according to people with knowledge of the matter. Aramco may seek to raise around $5 billion, one of the people said. The state-owned firm is considering a sale of both dollar and local-currency sukuk, the people said. No decision has been made and the firm may put off the deal if market conditions deteriorate. Aramco declined to comment. Several other state energy companies in the Arabian Gulf are also mulling Eurobond sales. Qatar Petroleum may issue as much as $10 billion in the coming weeks, while Energy Development Oman is seeking to raise around $3 billion.