By Hadeel Al Sayegh and Yousef Saba

DUBAI (Reuters) -Saudi Aramco is planning to sell U.S. dollar-denominated Islamic bonds as soon as this month, two sources with direct knowledge of the matter told Reuters, as it seeks to lever its balance sheet amid weaker oil prices.

Aramco, the world’s biggest oil company, could raise between $3 billion and $4 billion for its sukuk, one of the people said. A sukuk is a bond that follows Shariah principles. The people spoke on condition of anonymity because the matter is private.

Aramco declined to comment.

A deal for Aramco would follow a surge in bond issuance this month, driven by strong investor demand and heavy inflows into bond funds.

Saudi Aramco during its earnings call in August said it planned to continue borrowing, adding that the compa

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