UPDATE 1-Saudi Arabia nudges yields down in 13 bln riyal sukuk sale

UPDATE 1-Saudi Arabia nudges yields down in 13 bln riyal sukuk sale:

"Saudi Arabia's finance ministry pushed yields down slightly in its second monthly sale of domestic Islamic bonds on Tuesday, a sign of healthy appetite for the debt as Riyadh covers a budget deficit caused by low oil prices. Riyadh auctioned 13 billion riyals ($3.5 billion) of local currency sukuk, with the offer 295 percent subscribed. It sold 2.1 billion riyals of five-year, 7.7 billion riyals of seven-year and 3.2 billion riyals of 10-year sukuk, the ministry said. The size of the issue was down slightly from the government's first monthly offer in July, when it sold 17 billion riyals and attracted 51 billion of bids."



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