Just a day after the Saudis allegedly threatened the hegemony of the almighty petrodollar, Saudi Aramco began the sale of its first-ever dollar bonds with an order-book of around $40 billion. Ahead of the launch, Sergey Dergachev, sr. portfolio manager at Union Investment in Frankfurt said “It will be definitely a jumbo deal with at least four tranches,” said “Demand should be huge.” He was right with six tranches now reportedly being marketed for an offering which is expected to be $10 billion but will likely be increased materially. Demand for the most highly anticipated sale of the year totaled $30 billion as of Sunday night, Aramco Chairman and Saudi Energy Minister Khalid Al-Falih told Bloomberg TV early on Monday, but according to the latest Bloomberg report, it is already $40 billion and rising fast. Dergachev speculated that demand could even surpass the record $53 billion in bids that […]