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[BLA + 1,666]

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Edited November 18, 2020 by BLA

[Dan Warnick + 6,100]

4 hours ago, BLA said:

As reported below maturities up to even 30 or 50 years .  Really ?  In reality ARAMCO is Saudi Arabia.  While Saudi Arabia the sovereign state maintains an "A" rating , Aramco rating is now negative.

Saudi government sovereign Wealth Fund owns 98.5 % of Aramco. They are one in the same for all intent and purpose.  So they are using a public company Aramco bonds to fund their government. 

As Saudi Arabia goes so does Aramco.  Would you buy a 30 or 50 year Aramco unsecured bond knowing the direction of future oil use and price.  Personally, I would not even buy the 3 or 5 year bond regardless of coupon rate. 

All the big U.S. Investment Banks are in the Selling Group. Good Business.  

This whole deal smells of desperation.

"Monday, Aramco said it would issue dollar-denominated bonds of varying maturities - 3-, 5-, 10-, 30- and possibly 50-years - but did not specify how large the sale would be. 

"The bonds will be senior, dollar denominated, unsecured by assets," Aramco said in a filing.

Ratings agency Fitch last week lowered its outlook on Saudi Aramco's debt to negative and maintained its "A" rating, . .  sovereign rating for Saudi Arabia."

ARAMCO still thinks it matters.....   Uh, okay!