Saudi Telecom starts marketing debut 10-year dollar sukuk - Reuters:
State-run Saudi Telecom has started marketing its debut sale of U.S. dollar-denominated sukuk, or Islamic bonds, with an initial price of around 155 basis points over midswaps, a document issued by one of the banks leading the deal showed.
Saudi Arabia’s biggest telecommunications operator, rated A1 and A-(minus) by Moody’s and S&P, respectively, is expected to issue the paper later on Thursday, according to the document.
The bonds will be of benchmark size, which generally means upwards of $500 million.
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