According to a filing on the Tadawul exchange, the sukuk will represent direct, unsubordinated, and unsecured obligations of SA Global Sukuk Limited. The size of the issuance will depend on market conditions and investor demand at the time of offering. The proceeds will primarily support Aramco’s corporate strategies, enhance its balance sheet, and fuel its international expansion.
Aligning with its vision for long-term financial sustainability, Aramco’s sukuk issuance will comply with Rule 144A/Reg S under the US Securities Act of 1933, allowing the company to attract institutional investors from the US and international markets. Additionally, the sukuk is subject to regulatory approvals and will be listed on the London Stock Exchange, ensuring liquidity and visibility for investors.
Aramco has enlisted leading financial institutions, including Al Rajhi Capital, Citi, and Dubai Islamic Bank, as active joint book-runners for the issuance. A series of investor meetings will begin on September 24, and global interest is anticipated due to Aramco’s robust credit rating and the sukuk’s Shariah-compliant structure.
Passive joint book-runners like Abu Dhabi Commercial Bank and Albilad Capital will also facilitate placement.
