Aramco Oil Pipelines investors miss funding goal with $2.5 bln bond sale | Reuters


Aramco Oil Pipelines investors miss funding goal with $2.5 bln bond sale | Reuters
Aramco Oil Pipelines investors miss funding goal with $2.5 bln bond sale | Reuters
A group of institutional investors that last year took a stake in Saudi Aramco's oil pipelines network sold $2.5 billion in dual-tranche amortising bonds on Thursday, significantly below the amount sought, a bank document showed.
Amid turbulent debt markets, final spreads were unchanged from initial guidance, with the deal drawing around $5 billion in orders, according to the document.
A separate bank document had shown that the investors, via EIG Pearl Holdings, were seeking to raise $3.5-4.4 billion.
"Investment grade deals are getting difficult in light of market conditions," a banker away from the deal said.

[Author: [email protected] (Rupert Neil Bumfrey)]


Tags: Travel, Reuters, Saudi Aramco, Rupert Neil Bumfrey, Aramco Oil Pipelines, EIG Pearl Holdings

Source:  http://rupertbumfrey.blogspot.com/2022/01/aramco-oil-pipelines-investors-miss.html