UPDATE 1-Saudi Arabia starts selling triple-tranche dollar bonds - Reuters:
Saudi Arabia started marketing on Tuesday U.S. dollar denominated bonds split into tranches of seven, 12 and 35 years, a document showed, as the kingdom taps international investors as part of plans to raise $32 billion worth of debt this year.
Riyadh has been borrowing extensively over the past few years, locally and internationally, to tap new financing channels in an era of lower oil prices.
It is offering initial price guidance of around 110 basis points (bps) over U.S. Treasuries for the seven-year paper, 135 bps over the benchmark for the 12-year tranche, and 180 bps over for the 35-year, a document by one of the banks leading the deal showed.
Citigroup, Morgan Stanley and Standard Chartered are joint global coordinators and lead managers, and BNP Paribas, HSBC, JPMorgan and NCB Capital have been hired as passive lead managers.
No comments:
Post a Comment