{"id":97548,"date":"2025-06-01T00:00:00","date_gmt":"2025-06-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aramco-to-issue-more-sukuk-this-year\/"},"modified":"2025-06-01T00:00:00","modified_gmt":"2025-06-01T00:00:00","slug":"aramco-to-issue-more-sukuk-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/01\/aramco-to-issue-more-sukuk-this-year\/","title":{"rendered":"Aramco to issue more sukuk this year"},"content":{"rendered":"

<\/strong>Aramco is l<\/strong>ooking to issue m<\/strong>ore sukuk this year: <\/strong>Saudi Aramco released a new prospectus<\/a>(pdf)<\/a> on Friday for its sukuk program, giving it a year to issue shariah-compliant bonds which will be listed on the London Stock Exchange. The story also got ink from Reuters<\/a> and Bloomberg<\/a>.<\/p>\n

The rationale:<\/strong> The company plans to increase borrowing to support growth and strengthen its balance sheet, a move aimed at offsetting the financial impact of lower oil prices, as current cashflow can\u2019t cover dividends, Aramco CEO Amin Nasser told Bloomberg. Despite net debt reaching a three-year high, Aramco\u2019s 1Q debt-to-equity ratio stands at 5.3%, well below the 14% industry average, with Nasser confirming plans to \u201ccontinue to tap into additional bond markets.\u201d<\/p>\n

This follows Aramco\u2019s bond sale <\/strong>last week<\/a><\/strong><\/a>, which raised USD 5 bn across three tranches under its global medium-term note program on the London Stock Exchange, with proceeds earmarked for general corporate purposes. The oil giant also raised USD 9 bn from debt markets last year, according to Bloomberg\u2019s tally.<\/p>\n

REMEMBER- <\/strong>This push for debt comes as the oil giant\u2019s 1Q net income posted a 4.6% y-o-y<\/a>drop<\/a> due to economic uncertainty and increased crude supply, prompting an expected one-third cut in its dividend this year. Aramco was also said to be weighing asset sales<\/a> to unlock capital amid plans for international expansion.<\/p>\n

IN CONTEXT- <\/strong>The government heavily relies on Aramco\u2019s payouts, with oil revenues making up 62% of last year\u2019s state income. The IMF estimates the Kingdom needs oil prices above USD 90 a barrel to balance its budget, while Brent crude was around USD 64.4 a barrel on Friday.<\/p>\n

ADVISORS: <\/strong>Our friends at HSBC, along with Citi and JP Morgan are the arrangers of the sukuk program. The three banks will also serve as dealers, along with First Abu Dhabi Bank, Goldman Sachs, Morgan Stanley, SNB Capital, and Standard Chartered.<\/p>\n","protected":false},"excerpt":{"rendered":"

The upcoming issuances comes on the heels of a 5 USD bn bond sale last week<\/p>\n","protected":false},"author":1,"featured_media":97549,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[139,2441,57,10,87],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-aramco","tag-debt","tag-debt-watch","tag-enterpriseam-ksa","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"94ef7f6d-330e-41cc-ad94-1e3d85ae2f3e","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/370.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aramco to issue more sukuk this year","related_issue":[97543],"teaser":"The upcoming issuances comes on the heels of a 5 USD bn bond sale last week","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.03af4f97-0d58-4814-84a5-e0cf7abd371e.mp3"},"yoast_head":"\nAramco to issue more sukuk this year - 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