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Wednesday, 8 March 2017

Saudi Arabia Plans Domestic Sukuk to Help Boost Market - Bloomberg

Saudi Arabia Plans Domestic Sukuk to Help Boost Market - Bloomberg:

"Saudi Arabia is planning a sale of Islamic bonds in riyals to local institutions this year to help boost the country’s sukuk market, three people with knowledge of the matter said. The world’s biggest oil exporter is working on the benchmark-sized issue alongside a plan to sell dollar Islamic bonds in the international market, the people said, asking not to be identified because the information isn’t public. The country hasn’t yet decided which offering to conduct first, they said. A benchmark-sized issue usually raises more than $500 million. A sukuk issuance is one of a number of options the country is considering as part deficit financing and developing a domestic debt market, the Finance Ministry said in an e-mailed response to questions."



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