Saudi Aramco's mega debut bond showed off the company's accounts which indicated it was the most profitable company in the world ahead of tech mega firms.
for its debut international bond on Monday, a $10 billion issuance following a doubling of its profits after oil prices rose last year.
The company's credit rating, A1 from Moody's, is tied to that of Saudi Arabia given the huge intrinsic links between the two entities. One of the main advantages of issuing the bond is receiving high ratings from the various credit agencies. It's the first major opportunity for investors to scrutinize the offering of one of the world's largest energy companies given the usually secretive nature of Aramco's disclosures. It's part of a transparency push on behalf of Saudi Arabia as part of a will-they-won't-they over the company's IPO plans which it shelved last year.
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