Saudi Aramco’s $8 bln bond issue attracts 150 investors, says official

Saudi Aramco’s $8 bln bond issue attracts 150 investors, says official
Saudi Aramco announced yesterday, Nov. 25, the successful completion of $8 billion senior, dollar-denominated bonds, unsecured by assets under its Global Medium-Term Note (GMTN) Program, data compiled by Argaam showed. (File/AFP)
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Updated 26 November 2020

Saudi Aramco’s $8 bln bond issue attracts 150 investors, says official

Saudi Aramco’s $8 bln bond issue attracts 150 investors, says official
  • The dollar-denominated bond included a new tranche with a 50-year maturity

Saudi Arabian Oil Co.’s (Saudi Aramco) $8 billion senior, dollar-denominated bond issue attracted 150 new investors, Al Sharq TV reported, citing Khalid H Al-Dabbagh, Senior Vice President of Finance, Strategy and Development.

“The successful bond completion reflects investors’ confidence in Saudi Aramco and the Kingdom’s economy, and it implies Saudi Aramco’s resilience amid the ongoing challenges, especially in the energy industry,” Al-Dabbagh said.

The $8 billion senior, dollar-denominated bond included a new tranche with a 50-year maturity, Al-Dabbagh said, adding that the bond issue completion reflects investors’ high turnout and confidence in the company’s position as well as future plans.

Saudi Aramco announced yesterday, Nov. 25, the successful completion of $8 billion senior, dollar-denominated bonds, unsecured by assets under its Global Medium-Term Note (GMTN) Program, data compiled by Argaam showed.


China was largest recipient of FDI in 2020 — Report

China was largest recipient of FDI in 2020 — Report
Updated 8 min 47 sec ago

China was largest recipient of FDI in 2020 — Report

China was largest recipient of FDI in 2020 — Report
China was the largest recipient of foreign direct investment in 2020 as the coronavirus outbreak spread across the world during the course of the year, with the Chinese economy having brought in $163 billion in inflows.
China’s $163 billion in inflows last year, compared to $134 billion attracted by the United States, the United Nations Conference on Trade and Development (UNCTAD) said in a report released on Sunday.
In 2019, the United States had received $251 billion in inflows and China received $140 billion.
China’s economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-striken 2020 in remarkably good shape and remained poised to expand further this year even as the global pandemic rages unabated.
China’s gross domestic product grew 2.3% in 2020, official data showed last week, making China the only major economy in the world to avoid a contraction last year.
The world’s second-largest economy has surprised many with the speed of its recovery from the coronavirus jolt, especially as policymakers have also had to navigate tense US-China relations on trade and other fronts.
Overall, global FDI had collapsed in 2020, falling by 42% to an estimated $859 billion, from $1.5 trillion in 2019, according to the UNCTAD report.
“FDI finished 2020 more than 30% below the trough after the global financial crisis in 2009,” the UNCTAD said on Sunday.
FDI flows fell by 37% in Latin American and the Caribbean, by 18% in Africa, and by 4% in developing Asia, the report added.
East Asia accounted for a third of global FDI in 2020, while FDI flows to developed countries fell by 69%.