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Saudi Aramco anticipated to lift $6 billion as bond orders high $55 billion By Reuters 



© Reuters. FILE PHOTO: A view exhibits branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photograph

DUBAI (Reuters) – Saudi Arabian oil group Aramco (SE:) is anticipated to lift $6 billion on Wednesday as the corporate returned to the worldwide debt markets with its first U.S. dollar-denominated Islamic bond sale comprising three tranches, a doc confirmed.

Pricing steering on the Islamic bond or sukuk tightened to round 70 foundation factors (bps) over U.S. Treasuries (UST) for a three-year tranche, round 90 bps over UST for a five-year tranche and round 125 bps over UST for a 10-year tranche, all plus or minus 5 bps, the doc from one of many banks on the deal confirmed.

Orders on the sale, which is anticipated to shut afterward Wednesday, topped $55 billion.

Preliminary steering was round 105 bps over UST for the three-year bonds, round 125 bps over UST for the five-year notes and round 160 bps over UST for the 10-year tranche.

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