--Saudi Aramco is looking to raise at least $3 billion from a sale of bonds maturing in 10, 30 and 40 years, with funds likely to be used to refinance existing borrowings and contribute to its investment program, Bloomberg reports, citing an unnamed source.

--The Saudi state-owned energy giant has hired banks to manage the sale, and meetings with fixed income investors are set to start Tuesday, according to Bloomberg.

--This would be the first time in three years that Aramco raises funds in debt markets and adds to Saudi Arabia's debt spree this year as the state needs funds to help cover an expected fiscal shortfall, Bloomberg reports.

--Aramco didn't immediately respond on a request for comment by Dow Jones Newswires.


Full story: https://tinyurl.com/5errzv9c


Write to Christian Moess Laursen at christian.moess@wsj.com


(END) Dow Jones Newswires

07-09-24 0945ET