Saudi Arabia starts marketing debut euro debt sale - Reuters:
Saudi Arabia started marketing its debut euro-denominated bonds on Tuesday with initial price guidance of around 115 basis points over mid-swaps for an eight-year tranche, and around 170 bps over the same benchmark for a 20-year tranche, a document issued by one of the banks leading the deal showed.
Saudi Arabia will use the proceeds from the debt sale - the first by a Gulf government denominated in euros - for domestic budgetary purposes, according to the document.
Goldman Sachs and Societe Generale are coordinating the transaction, which is expected to be concluded on Tuesday.
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