Aramco, a world leader in integrated energy, announced the successful completion of a $5 billion bonds issuance. The issuance was carried out in three tranches at the London Stock Exchange, under its Global Medium Term Note Program. These tranches were $1.5 billion senior notes maturing in 2030 with a coupon rate of 4.750%; $1.25 billion senior notes maturing in 2035 with a coupon rate of 5.375%; and $2.25 billion senior notes maturing in 2055 with a coupon rate of 6.375%. The company stated that this offering attracted significant interest from a broad range of high-quality institutional investors.
This bond sale is carried out amid a declining oil prices, which have dropped from $82 per barrel in January to $62 in June 2025, putting pressure on Aramco’s revenues and its ability to maintain large dividend commitments to the Saudi government. Despite these challenges, Aramco reported a robust $106 billion net profit in 2024 and maintains relatively low debt levels, with a debt-to-equity ratio of 5.3% as of March 2025.
“The strong demand for our new bond offering, as reflected in the diversified orderbook, is a testament to global investors’ confidence in Aramco’s financial resilience and robust balance sheet,” said Ziad Thamer Al-Murshed, Aramco’s Executive Vice President of Finance and CFO. “Pricing the offering with no new issuance premium across all tranches clearly reflects Aramco’s unique long-term credit proposition. We remain committed to our disciplined approach towards capital management as we continue to execute our growth strategy,” Al-Murshed added.
