RIYADH: Saudi Aramco has priced its dollar-denominated 3-part bonds at $5 billion and set spread for them, fixed income news service IFR reported on Tuesday.
Aramco priced its five-year debt sale at $1.5 billion with spread set at 80 basis points over US Treasuries, tighter than 115 bps over the same benchmark released earlier in the day.
Meanwhile, the 10-year portion spread was set at 95 bps with a price of $1.25 billion and its 30-year portion spread was set at 155 bps with a price of $2.25 billion, IFR said. The spread was over the same benchmark tightened from 130 and 185 bps.
The proceeds from each issue of bonds will be used by Saudi Aramco for general corporate purposes, the company said in a bourse filing.
Before the pricing was announced, the debt deal was expected to be benchmark-sized, which is usually considered to be at least $500 million.
Earlier this month, Aramco reported a 4.6 percent drop in first-quarter profits, citing lower sales and higher operating costs as economic uncertainty hit crude markets.
Reuters reported last week that the oil giant is exploring potential asset sales to release funds as it pursues international expansion and weathers the impact of lower crude prices.
The company last turned to global debt markets in July when it raised $6 billion from a three-tranche bond sale.
Saudi Arabia, which is seeking funds to invest in new industries and wean its economy away from oil under its Vision 2030 plan, has long relied on Saudi Aramco to support economic growth.
Other Gulf issuers have tapped debt markets in recent months, braving a market turmoil caused by US President Donald Trump’s tariff policies.
They include Saudi Arabia’s $925 billion sovereign wealth fund and Abu Dhabi’s renewable energy firm Masdar, which last week raised $1 billion with a green bond. (Reporting by Hadeel Al Sayegh and Federico Maccioni in Dubai, Mohammad Edrees in Bangalore; Additional reporting by Pushkala Aripaka; Editing by Kirsten Donovan, Barbara Lewis, David Evans and Mark Porter)
Saudi Aramco prices three-part bond sale at $5bn
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Saudi Aramco prices three-part bond sale at $5bn
Silver crosses $77 mark while gold, platinum stretch record highs
- Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
- Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years
Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.
Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation as a US critical mineral, and strong investment inflows.
Spot gold was up 1.2% at $4,531.41 per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.
“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Markets are anticipating two rate cuts in 2026, with the first likely around mid-year amid speculation that US President Donald Trump could name a dovish Fed chair, reinforcing expectations for a more accommodative monetary stance.
The US dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.
On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.
“$80 in silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next year,” Grant added.
Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.
On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.
Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.
All precious metals logged weekly gains, with platinum recording its strongest weekly rise on record.
