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Demand for Aramco's bonds swells to over $85 billion - source

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By Reuters
Demand for Aramco's bonds swells to over $85 billion - source
FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed/File Photo   -   Copyright  Hamad I Mohammed(Reuters)

DUBAI (Reuters) – Saudi Aramco has attracted orders in excess of $85 billion (£65 billion) for its planned debut international bond, a source familiar with the matter said.

Aramco was expected to raise around $10 billion from the deal, which is split into six tranches with maturities ranging from three to 30 years. The bonds will be priced later on Tuesday.

Before the six-part deal was marketed on Monday, Saudi Energy Minister Khalid al-Falih said initial indications of interest for the paper were over $30 billion.

(Reporting by Davide Barbuscia; Editing by Kirsten Donovan)