(MENAFN- Trend News Agency ) Saudi Aramco has hired a group of banks to arrange the inaugural issuance of a benchmark U.S. dollar denominated sukuk, a document showed on Monday, Trend reports with reference to Reuters .
The sukuk sale plan comes as Aramco seeks funds to fulfil the large commitments for its major shareholder, the Saudi government.
The group of banks will arrange a series of fixed income investor calls starting on Monday, a document from one of the banks showed.
Aramco plans to issue the sukuk in 3-, 5- and 10-year tranches, subject to market conditions, the document showed.
The active bookrunners on the deal are Alinma Invest, Al Rajhi Capital, BNP Paribas, Citigroup, First Abu Dhabi Bank, Goldman Sachs International, HSBC, JP Morgan, Morgan Stanley, NCB Capital, Riyad Capital, SMBC Nikko and Standard Chartered Bank.
Aramco last year maintained a promised $75 billion dividend despite lower oil prices, and is expected to shoulder significant domestic investments that form part of Saudi Arabia's plans to transform the economy.
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