Saudi Aramco, the state-owned oil company, has tightened the price guidance for its 5- and 10-year dollar bonds, according to a report by IFR on Wednesday.

The bond issuance could potentially raise up to $3 billion, Reuters reported on Tuesday.

The price guidance for the 5-year bonds has been tightened to a range of 90 to 95 basis points over U.S. Treasuries and for the 10-year portion to a range of 105 to 110 bps over the same benchmark, said IFR.

(Reporting by Shamsuddin Mohd; Editing by Andrew Cawthorne)