On 18 September, Aramco finished a $3bn sukuk issuance in two $1.5bn tranches on the London Stock Exchange. The offering is the second debt issuance this year by the energy giant after the firm raised $5bn in bonds in June (MEES, 30 May).
Despite tapping the debt market, Aramco’s gearing has remained low, reaching only 6.5% at the end of Q2. A drop in oil prices has pushed the company to increase borrowing to maintain dividend payments (MEES, 8 August). (CONTINUED - 77 WORDS)