RIYADH, Oct. 3 (Xinhua) -- Saudi Aramco announced on Thursday that it has completed the issuance of a 3-billion-U.S. dollar international sukuk, or Islamic bond.

According to the company's statement, the issuance consists of two U.S. dollar-denominated tranches: one for 1.5 billion dollars maturing in 2029 with a profit rate of 4.25 percent per annum, and another for 1.5 billion dollars maturing in 2034 with a profit rate of 4.75 percent per annum.

The issuance was priced on September 25, and the securities were listed on the London Stock Exchange. The company said the offering garnered strong demand and was oversubscribed by six times.

Both tranches were priced with a negative new issue premium, highlighting Saudi Aramco's strong credit profile.

This issuance reinforces Saudi Aramco's efforts to diversify and broaden its investor base, enhance liquidity, and re-establish its sukuk yield curve. Enditem

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