November 20, 2018 / 11:39 AM / a month ago

Aramco says bonds issuance on table for SABIC deal, to make needed disclosures

DUBAI, Nov 20 (Reuters) - Saudi Aramco said on Tuesday that all funding options, including the issuance of bonds, are being considered for its potential acquisition of a stake in petrochemicals firm SABIC, and that it would make related disclosures when it is appropriate to do so.

“The company is actively pursuing a strategy of enhancing its portfolio by investing further into downstream and the petrochemical sector in particular. This includes discussions underway with the Public Investment Fund regarding the potential acquisition of a strategic interest in SABIC,” Aramco said in a statement to Reuters.

“All funding options, including the issuance of bonds, are being examined. The company will make any related disclosures as and when it is appropriate to do so.”

The statement came after the Wall Street Journal reported this week that Aramco no longer plans to launch what would have been one of the world’s largest-ever corporate-bond sales to fund its acquisition of a stake in Saudi Basic Industries . (Reporting By Rania El Gamal; Writing by Saeed Azhar; Editing by Tom Arnold)

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