Saudi Aramco Looks To Raise $3 Billion from New Bond Issue

Saudi Aramco, the world’s largest oil company, is looking to raise up to $3 billion from U.S.-dollar denominated Islamic bonds, Reuters reported on Tuesday, quoting sources with direct knowledge of the plans. Aramco, which is also the world’s single biggest crude oil exporter, plans to issue Islamic bonds, the so-called sukuk, in two tranches—five-year notes and ten-year notes. The Saudi oil giant aims to raise up to $3 billion from the bond sale, according to the sources.   Today Aramco announced in a regulatory filing with…