The price wasn’t all that great since it was a bit inflated given the hype over the issue. Many buyers may have flipped it in the market. Incidentally, Aramco chose to only issue $12 billion of debt given its focus on favorable pricing so as to set a precedent for future financing activities. With nearly $90 billion in demand left on the table, fund managers and traders expect the bonds to shoot up in value in the near term.

According to sources familiar with the matter at hand, Saudi Aramco’s newly issued dollar-denominated bonds outperformed its longer-dated peers on Wednesday.

On Tuesday, Saudi Aramco had issued its first ever $12 billion dollar denominated bond, disappointing much of the over $100 billion in demand.

Of the five tranches, the $3 billion 30-year bonds were the best performers and were up by slightly over 1%, said sources; shorter-dated paper made more modest gains.

A clearer picture will emerge of the bonds’ performance once markets in London and New York open later today.

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