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Wednesday, 12 April 2017

Saudi Arabia Set to Raise $8 Billion in Debut Islamic Bond Sale - Bloomberg

Saudi Arabia Set to Raise $8 Billion in Debut Islamic Bond Sale - Bloomberg:

"Saudi Arabia plans to raise about $8 billion in its first dollar-denominated Islamic bond sale, people familiar with the matter said, less than six months after the kingdom sold $17.5 billion of conventional bonds. The government is selling the five-year sukuk tranche at 100 basis points over the mid-swap rate and the 10-year tranche at a spread of 140 basis points to the benchmark, the people said, asking not to be identified because the information is private. Investors submitted more than $33 billion in bids, which were evenly split between the two offerings, the people said."



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