Saudi Arabia Said to Eye Bond Sale of as Much as $15 Billion - Bloomberg

Saudi Arabia Said to Eye Bond Sale of as Much as $15 Billion - Bloomberg:

"Saudi Arabia is considering selling as much as $15 billion of bonds this year in what would be the country’s first foray into international capital markets, people with knowledge of a matter said.

Encouraged by Qatar’s record issue last week, Saudi Arabia is weighing a sale of at least $10 billion in five-, 10- and 30-year bonds after Ramadan ends in July, the people said. No final decision has been made and the discussions are still at a preliminary stage, the people said, asking not to be identified as the talks are private.
Governments in the six-nation Gulf Cooperation Council, which includes the two-biggest Arab economies of Saudi Arabia and the United Arab Emirates, are turning to public markets after the plunge in oil prices punched holes in their budgets. Qatar last week attracted $23 billion in orders for its $9 billion sale, the biggest-ever from the Middle East. Abu Dhabi raised $5 billion from the sale of five- and 10-year securities in April, while Dubai is also said to be preparing an international bond sale this year."



'via Blog this'