Aramco Sells $3 Billion of Debt as Saudis Ramp Up Borrowings (4)

Saudi Aramco sold $3 billion of dollar bonds Wednesday in its second such deal this year and amid a September flood of issuance from Saudi Arabia.

The sukuk, or Islamic issue, includes $1.5 billion each of five- and 10-year notes, according to a person familiar with the matter who asked not to be identified as the discussions are private. They respectively priced at 70 basis points and 80 basis points above US Treasury benchmarks, about 35 basis points less than initial discussions.

The deal had a peak order book of more than $20 billion before finishing at more than $16.85 ...