Saudi Arabia plans to sell more bonds and the debut dollar debt offering by state-run oil giant Aramco is "only the beginning," Energy Minister Khalid Al-Falih said.
“There will be more," he said a conference in Riyadh. "I won’t tell you what and when, and it won’t be bonds only.”
Aramco, the world’s biggest oil exporter, raised $12 billion from international bond markets this month in in one of the most oversubscribed debt offerings in history.
The demand for the debut offering was so robust it allowed the energy giant to borrow at a lower yield than its sovereign parent.
"Aramco sooner than you think will be accessing equity markets," he said. The 2021 IPO date for the company "could slip a little bit, could come forward."For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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