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Tuesday, 4 October 2016

Doha Bank CEO Says Saudi Arabia ‘Missed the Boat’ on Bond - Bloomberg

Doha Bank CEO Says Saudi Arabia ‘Missed the Boat’ on Bond - Bloomberg:

"Saudi Arabia “missed the boat” by not selling its first international bond earlier to narrow a budget deficit caused by the slump in oil prices, Doha Bank Chief Executive Officer Raghavan Seetharaman said.
“They have been pronouncing for borrowing for nine months, and they have still not executed, I’m surprised,” Seetharaman said Tuesday in an interview on Bloomberg Markets Middle East. “They should have gone and borrowed when they knew they would have a budget deficit.”
The kingdom had planned to tap international debt markets as early as September, Minister of State Mohammed bin Abdulmalik Al-Sheikh said during a meeting between Bloomberg News and Deputy Crown Prince Mohammed bin Salman in April. U.S. legislation that allows the families of 9/11 victims to sue the Arab country - passed by Congress last week - risks delaying the bond, people with knowledge of the matter said last month"

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