Saudi Arabian Mining Co. raised $1 billion from the sale of dollar bonds, joining a wave of issuers from the kingdom tapping global debt markets.
The 10-year US dollar-denominated trust certificates offers a return of 5.25%, the company also known as Maaden said in a statement.
The banks managing the sale:
- Albilad Investment Co., AlJazira Capital, Arab Banking Corp., Bank of China, BNP Paribas, Citigroup, Goldman Sachs, HSBC, JPMorgan, KFH Capital, Merril Lynch, Mizuho International, Natixis and SNB Capital
The offering follows a spate of international bond deals by issuers in the kingdom. Saudi Arabia returned to the international bond market earlier this month, raising $11.5 billion through a four-part offering. Others tapping the market included Saudi Telecom, Saudi Electricity, Saudi National Bank, Al Rajhi Bank, Riyad Bank, and Bank Albilad.
Maaden plans to invest $110 billion over the next decade to expand production, its CEO said last week after the company said it discovered 7.8 million ounces of gold across four areas in the kingdom, covering operational mines, early-stage prospects, and new exploration sites.
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