The Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed
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Saudi Aramco is planning to raise 11.25 billion riyals ($3 billion) from its debut Islamic bond, according to a person with knowledge of the offering, boosting the size of the sale because of investor demand.Aramco was initially seeking to raise about $2 billion under a 37.5 billion riyal program, people with knowledge of the matter said last month.Aramco is also considering setting up a dollar-bond program, people said last year.The closest Saudi Aramco has come in the past to selling debt is a 3.75 billion riyal sukuk issued by Saudi Aramco Total Refining & Petrochemical Co., a joint venture with France's Total known as Satorp.
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