Saudi Aramco completed a two-tranche Reg S-compliant USD 3 bn sukuk issuance, it said in a Tadawul disclosure on Thursday. The oil giant offered 15k bonds with a nominal value of USD 200k apiece and a USD 1k in excess, to be listed on the London Stock Exchange, after reportedly attracting over USD 20 bn in orders.

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The issuance was split evenly, involving a USD 1.5 bn, five-year tranche with a 4.125% quarterly coupon priced at 70 basis points above US Treasuries, and 10-year slice offering a 4.625% quarterly profit rate priced at 80 bps. Both came in about 35 bps tighter than what the company initially hinted at.

This is the second time Aramco taps the global bond market this year, after raising USD 5 bn in May in a US-denominated bond issuance under its global medium-term note program over three tranches.

ADVISORS- Our friends at HSBC, alongside Al Rajhi Capital, Citi, Dubai Islamic Bank, First Abu Dhabi Bank, Goldman Sachs International, JP Morgan, KFH Capital and Standard Chartered Bank are serving as active joint bookrunners. Meanwhile, Abu Dhabi Commercial Bank, Albilad Capital, Alinma Capital, Bank of China, Emirates NBD Capital, Mizuho, MUFG, Sharjah Islamic Bank and SMBC are passive joint bookrunners.

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