Saudi Arabia's record bond issues in 2012 are from a handful of the kingdom's biggest companies as a lack of a local-currency sovereign-yield curve hampers sales.
A 15 billion-riyal ($4 billion) sukuk by the state- controlled General Aviation Authority leads local-currency offerings from at least four borrowers in the world's top oil exporter, data compiled by Bloomberg show.
This compares with one sale in the year-earlier period and trails offerings in countries like Norway, an oil exporter with an economy 4 per cent smaller, where 96 borrowers raised about $12.8 billion.
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