Saudi Arabia is talking with unnamed foreign investors about selling stakes in Aramco, with options that include a 1% acquisition by a leading global energy company, according to the kingdom’s crown prince, the Wall Street Journal reported. Crown Prince Mohammed bin Salman, the kingdom’s de facto ruler and chairman of Saudi Arabian Oil Co., as Aramco is officially known, said that an announcement would come in the next year or two.
International Companies Without Headquarters in Saudi "Will Have to Make a Choice" to Land Government Contracts in 2024
Saudi Arabia sold a two-part dollar bond as countries in the Gulf Arab region raise cash buffers to weather low oil prices and the coronavirus pandemic, Bloomberg News reported. The world’s largest crude exporter priced $5 billion in bonds on Tuesday. The $2.75 billion 12-year notes were priced at 130 basis points over 10-year U.S. Treasuries, compared with guidance of 140 basis points and initial price talk of 165. The $2.25 billion 40-year security were priced at 3.45%, versus guidance in the 3.55% area and initial price talk of 3.75%.