DUBAI (Reuters) – Saudi Aramco’s newly issued dollar-denominated bonds inched up on Wednesday, with longer-dated paper outperforming, sources familiar with the matter said.
The company on Tuesday issued $12 billion worth of paper, disappointing much of the over $100 billion (£76.6 billion) in demand.
Of the five tranches, the $3 billion 30-year bonds were the best performers, up by slightly over 1 cent, the sources said, while shorter-dated paper made more modest gains.
The sources said there would be a clearer picture of the bonds’ performance once markets in London and New York open later on Wednesday.
(Reporting by Davide Barbuscia; Editing by Kirsten Donovan)