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Monday, 26 September 2016

Saudi Arabia bond sale set to test investor appetite | The National

Saudi Arabia bond sale set to test investor appetite | The National:

"Saudi Arabia’s upcoming international sovereign bond sale will be a litmus test of global investment appetite for the Arab world’s largest economy as it embarks on a plan to wean itself off oil dependency.

The kingdom, the world’s largest crude exporter, is said to have mandated Citigroup, JP Morgan and HSBC to manage what is expected by market participants to be a US$10 billion to $15bn bond sale. The timing of the issue is as yet unconfirmed but it could be early next month according to media reports.


That would make it the biggest ever such sale in the region. Pricing is difficult to anticipate as it will be the first ever international sale for the kingdom and there are a number of push and pull factors that may swing the coupon higher or lower, bond investors say."



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