Falih said that he believes the demand for Aramco bonds is "north of" $30 bln.
According to him, the Aramco bond deal will be finalised on Wednesday.
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The placement has attracted the attention of both investors in emerging market bonds and developed-market funds with investment grade ratings. Investors expect Saudi Aramco bonds to be rated at a level similar to sovereign debt. Earlier this year, the government of Saudi Arabia issued 10-year dollar-denominated bonds with a yield of 4.38%, which subsequently fell to 3.77% as the price of the bond rose.
Aramco produces approximately 13 percent of the world's oil, but it finds itself under substantial pressure from shale producers in North America, as well as its old rivals, such as BP and Total.