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BREAKING NEWS

UK asset manager Standard Life Aberdeen bought $100 million of Aramco bond - chairman

UK asset manager Standard Life Aberdeen bought $100 million of Aramco bond - chairman
FILE PHOTO: The offices of Standard Life Aberdeen in Saint Andrew Square Edinburgh, Scotland, Britain February 15, 2019.REUTERS/Russell Cheyne/File Photo -
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Russell Cheyne(Reuters)
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RIYADH (Reuters) - UK asset manager Standard Life Aberdeen bought $100 million (£77 million) worth of Saudi Arabia state oil giant Aramco's debut international bond, the investment firm's chairman said on Sunday.

"I think it was a transformative transaction for the Saudi market," Martin Gilbert said at a financial sector conference in Riyadh. "We lost a little on it but shows how well priced it was," he added.

Aramco received more than $100 billion in orders by April 9 for its debut bond - even after its prospectus said the kingdom would not guarantee Aramco’s notes - but chose to sell only $12 billion.

(Reporting by Stephen Kalin, Writing by Nafisa Eltahir, editing by Hadeel Al Sayegh)

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