{"id":6944,"date":"2021-06-17T19:02:52","date_gmt":"2021-06-17T19:02:52","guid":{"rendered":"http:\/\/nationaltimes.pk\/eng\/?p=6944"},"modified":"2021-06-17T19:02:52","modified_gmt":"2021-06-17T19:02:52","slug":"saudi-aramco-raises-6-billion-in-debut-islamic-bond-sale","status":"publish","type":"post","link":"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/","title":{"rendered":"Saudi Aramco raises $6 billion in debut Islamic bond sale"},"content":{"rendered":"<p>Riyadh: Saudi Aramco on Thursday said it raised $6 billion from its first dollar-denominated Islamic bond sale, as the energy giant seeks capital to fund its hefty dividend payments.<br \/>\n                  The three-tranche sukuk, or Islamic bonds compliant with the Muslim faith, are due in three, five and 10 years, the company said in a statement.<br \/>\n                  Aramco &#8220;successfully raised $6 billion, following the sale of US dollar-denominated sharia-compliant securities to leading institutional investors&#8221;, the statement said.<br \/>\n                  The sale comes after two previous bond offerings that were not compliant with Islamic law &#8212; a debut $12 billion sale in 2019 and an $8 billion offering in November last year.<br \/>\n                  The company is raising money to help pay an annual dividend of $75 billion, a key revenue source for the Saudi government, Aramco&#8217;s biggest shareholder.<br \/>\n                  Aramco, the kingdom&#8217;s cash cow, pledged to pay the dividend when it sought to generate interest in its debut initial public offering on the Saudi bourse in December 2019.<br \/>\n                  But company finances came under pressure last year, when crude prices tanked as the coronavirus pandemic sapped global demand.<br \/>\n                  Last month, Aramco declared a 30 percent jump in first quarter profit, thanks to a recovery in oil prices, but the company&#8217;s free cash flow fell short of the $18.75 billion dividend obligation for that period.<br \/>\n                  Aramco is pushing to raise cash as Riyadh faces a ballooning budget deficit and pursues multi-billion dollar projects to diversify its oil-reliant economy.<br \/>\n                  In April, Aramco said it had struck a $12.4-billion deal to sell a minority stake in a newly formed oil pipeline business to a consortium led by US-based EIG Global Energy Partners.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Riyadh: Saudi Aramco on Thursday said it raised $6 billion from its first dollar-denominated Islamic bond sale, as the energy giant seeks capital to fund its hefty dividend payments. The three-tranche sukuk, or Islamic bonds compliant with the Muslim faith, are due in three, five and 10 years, the company said in a statement. Aramco [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-6944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Saudi Aramco raises $6 billion in debut Islamic bond sale - Nation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi Aramco raises $6 billion in debut Islamic bond sale - Nation\" \/>\n<meta property=\"og:description\" content=\"Riyadh: Saudi Aramco on Thursday said it raised $6 billion from its first dollar-denominated Islamic bond sale, as the energy giant seeks capital to fund its hefty dividend payments. The three-tranche sukuk, or Islamic bonds compliant with the Muslim faith, are due in three, five and 10 years, the company said in a statement. Aramco [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/\" \/>\n<meta property=\"og:site_name\" content=\"Nation\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-17T19:02:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2021\/06\/Untitled-1-copy-55.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"670\" \/>\n\t<meta property=\"og:image:height\" content=\"370\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"adminnation\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"adminnation\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/\",\"name\":\"Saudi Aramco raises $6 billion in debut Islamic bond sale - Nation\",\"isPartOf\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2021\/06\/Untitled-1-copy-55.jpg\",\"datePublished\":\"2021-06-17T19:02:52+00:00\",\"author\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/96dc24980f85ecafe26ade8fe4748f0f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/#primaryimage\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2021\/06\/Untitled-1-copy-55.jpg\",\"contentUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2021\/06\/Untitled-1-copy-55.jpg\",\"width\":670,\"height\":370},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationaltimes.pk\/eng\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Saudi Aramco raises $6 billion in debut Islamic bond sale\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/\",\"name\":\"Nation\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationaltimes.pk\/eng\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/96dc24980f85ecafe26ade8fe4748f0f\",\"name\":\"adminnation\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7f4e66ad9f5639ba3a6f846e43d55d93ee5fd5f30b5c5a10f4cd223008e8fa10?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7f4e66ad9f5639ba3a6f846e43d55d93ee5fd5f30b5c5a10f4cd223008e8fa10?s=96&d=mm&r=g\",\"caption\":\"adminnation\"},\"sameAs\":[\"https:\/\/nationaltimes.pk\/eng\/\"],\"url\":\"https:\/\/nationaltimes.pk\/eng\/author\/adminnation\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Saudi Aramco raises $6 billion in debut Islamic bond sale - Nation","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/","og_locale":"en_US","og_type":"article","og_title":"Saudi Aramco raises $6 billion in debut Islamic bond sale - Nation","og_description":"Riyadh: Saudi Aramco on Thursday said it raised $6 billion from its first dollar-denominated Islamic bond sale, as the energy giant seeks capital to fund its hefty dividend payments. The three-tranche sukuk, or Islamic bonds compliant with the Muslim faith, are due in three, five and 10 years, the company said in a statement. Aramco [&hellip;]","og_url":"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/","og_site_name":"Nation","article_published_time":"2021-06-17T19:02:52+00:00","og_image":[{"width":670,"height":370,"url":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2021\/06\/Untitled-1-copy-55.jpg","type":"image\/jpeg"}],"author":"adminnation","twitter_card":"summary_large_image","twitter_misc":{"Written by":"adminnation","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/","url":"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/","name":"Saudi Aramco raises $6 billion in debut Islamic bond sale - Nation","isPartOf":{"@id":"https:\/\/nationaltimes.pk\/eng\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/#primaryimage"},"image":{"@id":"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/#primaryimage"},"thumbnailUrl":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2021\/06\/Untitled-1-copy-55.jpg","datePublished":"2021-06-17T19:02:52+00:00","author":{"@id":"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/96dc24980f85ecafe26ade8fe4748f0f"},"breadcrumb":{"@id":"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationaltimes.pk\/eng\/2021\/6944\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/#primaryimage","url":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2021\/06\/Untitled-1-copy-55.jpg","contentUrl":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2021\/06\/Untitled-1-copy-55.jpg","width":670,"height":370},{"@type":"BreadcrumbList","@id":"https:\/\/nationaltimes.pk\/eng\/2021\/6944\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationaltimes.pk\/eng\/"},{"@type":"ListItem","position":2,"name":"Saudi Aramco raises $6 billion in debut Islamic bond sale"}]},{"@type":"WebSite","@id":"https:\/\/nationaltimes.pk\/eng\/#website","url":"https:\/\/nationaltimes.pk\/eng\/","name":"Nation","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationaltimes.pk\/eng\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/96dc24980f85ecafe26ade8fe4748f0f","name":"adminnation","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7f4e66ad9f5639ba3a6f846e43d55d93ee5fd5f30b5c5a10f4cd223008e8fa10?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7f4e66ad9f5639ba3a6f846e43d55d93ee5fd5f30b5c5a10f4cd223008e8fa10?s=96&d=mm&r=g","caption":"adminnation"},"sameAs":["https:\/\/nationaltimes.pk\/eng\/"],"url":"https:\/\/nationaltimes.pk\/eng\/author\/adminnation\/"}]}},"_links":{"self":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts\/6944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/comments?post=6944"}],"version-history":[{"count":1,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts\/6944\/revisions"}],"predecessor-version":[{"id":6946,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts\/6944\/revisions\/6946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/media\/6945"}],"wp:attachment":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/media?parent=6944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/categories?post=6944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/tags?post=6944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}