Daily Business Wrap - Aramco gets blockbuster $100 billion orders for bond - video Dailymotion

Gulf News

After being shunned by Wall Street and international investors last year, Saudi Arabia made a roaring comeback on Tuesday as oil giant Aramco received more than $100 billion in orders for its maiden global bond.

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00:00Saudi Arabia has revealed that its initial bond offering has received blockbuster interest

00:07from the world's investors.

00:09Saudi Aramco said on Tuesday that it received over $100 billion in orders for its inaugural

00:15bond, far exceeding the initial estimate of $10 to $15 billion.

00:20Analysts say it's the largest ever demand for an emerging market bond, which Saudi Aramco

00:26will plan to use in order to partly finance its acquisition of SABIC, the industrials

00:32corporation of Saudi Arabia.

00:34It's a $69.1 billion acquisition for 70% of the company.

00:39The bond will go some way, as I said, to financing that.

00:43In other news, for Naibla, the Abu Dhabi-based financial services company started by Indian

00:47billionaire Bevegutu Shetty has said it has plans to IPO on the London Stock Exchange

00:54with an intention to raise around $200 million in capital.

00:57A listing could value the firm at around $3.5 billion and could raise as much as $1 billion,

01:04depending on investor appetite, according to Bloomberg News.

01:07Shetty currently owns 91% of for Naibla, the company's CEO said on a call with reporters

01:12today.

01:13And lastly, EA Partners, a vehicle set up by Etihad Airways in 2015 to provide funds

01:19to other airlines that Etihad owns a stake in, has said that India's Jet Airways has

01:24now become the third airline that the Etihad was funding to fall behind on its interest

01:29payments.

01:30That's all for today.

01:31Thank you very much for watching.

01:32We'll be back tomorrow with more news, but until then, check gulfnews.com for the latest

01:36headlines.

01:37I'm Ed Clouds.

01:38See you tomorrow.

Daily Business Wrap - Aramco gets blockbuster $100 billion orders for bond

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