New York — Saudi Aramco kicked off a jumbo bond sale on Tuesday to help fund a $75bn dividend, returning to the debt markets for the first time since April 2019.
The state energy firm is raising debt after slumping crude prices caused profit to fall by 45% in the third quarter. That has left it unable to generate enough cash to fund investor payouts, almost all of which go to the Saudi Arabian government, which needs the money to plug a widening budget deficit and prop up a slumping economy...
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