SYDNEY: Saudi Aramco has set the initial price guidance for 5- and 10-year dollar sukuk bonds, according to a term sheet reviewed by Reuters on Wednesday.

The mainly state-owned oil company is aiming to raise up to $3 billion in the deal, Reuters reported on Tuesday.

The 5-year bond has price guidance of Treasuries plus around 120 basis points and the 10-year bond has Treasuries plus about 135 basis points, according to the term sheet.