Saudi Arabia plans bond deal to help finance budget deficit

Saudi Arabia plans bond deal to help finance budget deficit:
"Saudi Arabia plans to follow its record-breaking debut on global debt markets with an Islamic bond issue in a sale that could come as early as February.

The sharia-compliant sukuk will form part of a pipeline of bond sales to finance the kingdom’s budget deficit and invest in economic diversification away from oil and is likely to appeal to regional investors in the Gulf.

Last year, Saudi Arabia set a record for developing countries with its first sovereign bond sale, attracting $67bn in investor bids for a $17.5bn issue."

'via Blog this'