Aramco Gets $22 Billion in Bids for Dollar Sukuk Bond Sale

Bids for Saudi Aramco’s dollar Sukuk bond sale, its first such deal since a 2021 debut, have reached over $22 billion in a sign of investors’ unfettered appetite for the Saudi Arabia’s state-run oil producer’s debt.

The transaction is split between dollar-denominated benchmarks of five and 10-year that comply with Islamic rules, according to people familiar with the matter who asked not to be identified. Aramco was looking to raise $3 billion, Bloomberg reported Tuesday.

While it’s the company’s first US dollar denominated Sukuk bond sale in over three years, it’s the second time it has sold ...