Banks pitching for potential Saudi Arabia euro-denominated bonds - sources - Reuters:
Saudi Arabia is likely to issue euro-denominated bonds this year and some banks have started pitching for the possible debt sale, two sources familiar with the matter said, as the kingdom plans to boost borrowing to offset a sharp drop in oil revenue.
The Saudi issuance is likely to be around June and about the same size as the country’s last euro bond issuance, one of the sources said. The desert kingdom raised 3 billion euros from its debut bonds denominated in euros last July.
A spokesman for the Saudi finance ministry did not immediately respond to a request for comment.
The Saudi government has already raised $12 billion in international bonds this year.
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