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Sunday, 25 December 2016

Record Saudi Bond Sale Was a Start. Here Is What’s Next - Bloomberg

Record Saudi Bond Sale Was a Start. Here Is What’s Next - Bloomberg:
"Saudi Arabia laid out key elements of its borrowing plans for 2017 as the kingdom seeks to capitalize on investor demand for its debut sale this year to finance the budget deficit.

The world’s biggest oil exporter plans to raise between $10 billion and $15 billion from international bond markets, Mohammad Al Tuwaijri, secretary-general of the Finance Committee at the Royal Court, told Saudi-owned Al Arabiya television. Authorities will sell about 70 billion riyals ($18.7 billion) locally, he said.

Officials from Saudi Arabia have met with banks to discuss the potential sale of Shariah-compliant bonds in the first quarter, according to five people familiar with the matter. Saudi Arabia raised $17.5 billion in October in the biggest ever emerging-market bond sale, attracting $67 billion of bids, people familiar with the sale told Bloomberg at the time."

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