Saudi Arabia is tapping international bond markets for the second straight month, marketing euro-denominated debt to take advantage of ultra-low borrowing costs and help reduce its reliance on dollar debt.
The world’s largest crude exporter is planning a two-part, benchmark-sized deal with a three-year and nine-year offering, according to a person familiar with the matter, who asked not to be identified because they’re not authorized to speak publicly. Saudi Arabia raised $5 billion from a two-part dollar-bond offering in January.
The kingdom has picked BNP Paribas SA, Goldman Sachs Group Inc. and HSBC Holdings Plc as global coordinators, and Citigroup Inc, JPMorgan Chase & Co, Standard Chartered Plc and Samba Capital as passive joint bookrunners to organize a global investor call on Tuesday.
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