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$10bn-$15bn ISSUE SEEN

Saudi Arabia set for huge international bond sale

LONDON, October 18, 2016

Saudi Arabia is set to launch its first international bond sale on Wednesday to help ease an economic downturn caused by oil price slump, reports said.

The kingdom is targeting between $10 billion and $15 billion in the bond sale. This will make it the largest issue of international debt in the Middle East, said a Financial Times report.

Banks connected to the sale said the Saudis are due to conclude a transatlantic roadshow on Tuesday for the dollar-denominated bond — one of the most eagerly awaited issues this year — after which they will release initial price guidance, said the FT report.

Bankers said strong demand is expected for the debut bond.




Tags: Saudi Arabia | economic | bond |

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