Saudi Arabia Is Said to Plan Dollar Sukuk as Soon as October - Bloomberg:
Saudi Arabia is considering selling a dollar-denominated Islamic bond as early as next month as the kingdom seeks to take advantage of lower borrowing costs, according to people with knowledge of the matter.
The government is close to hiring banks for the possible sukuk sale, the people said, asking not to be identified because the information is private. A spokesman for the Finance Ministry didn’t immediately respond to requests to comment.
A sale would come just weeks after attacks on the kingdom’s oil facilities slashed Saudi Aramco’s crude output by half. Still, Finance Minister Mohammed Al-Jadaan said the strikes had “zero” impact on the country’s revenue. S&P Global Ratings last week affirmed the country’s rating at A- with a stable outlook.
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