April 25, 2019 / 12:24 PM / in 2 months

Aramco does not plan more bonds this year: CEO

FILE PHOTO: Saudi Aramco CEO Amin H. Nasser attends the China Development Forum in Beijing, China, March 25, 2019. REUTERS/Thomas Peter

RIYADH (Reuters) - Saudi Aramco, the world’s largest oil firm, will not issue more bonds this year after its debut $12 billion international debt sale earlier this month, Chief Executive Amin Nasser told a conference in Riyadh on Thursday.

Aramco’s future debt issues will depend on its funding requirements, but the firm will maintain a prudent approach in managing its balance sheet, he said.

Saudi Energy Minister Khalid al-Falih, chairman of Aramco, said this week that Aramco’s bonds were “only the beginning” and the company will remain active in the debt markets in the future.

Reporting by Stephen Kalin and Saeed Azhar Writing by Davide Barbuscia; Editing by Raissa Kasolowsky

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