Aramco hires four banks to advise on its first bond sale ahead of 2018 IPO

Saudi Aramco has hired four banks to advise on its first bond sale ahead of its 2018 IPO, Bloomberg reported. NCB Capital, Alinma Investment Co., Riyad Capital, and HSBC Holding Plc’s local arm will advise on the sale of SAR-denominated sukuk, which could be followed by USD-denominated bonds, sources close to the matter said. Aramco is hoping to raise USD 10 bn from the bond sale.