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Saudi sells $5.33bn sovereign bonds to banks

DUBAI, September 16, 2015

Saudi Arabia has sold a new tranche of bonds worth SR20 billion ($5.33 billion) to banks to help cover its budget deficit, the Maaal financial website said on Wednesday, citing informed sources.

The five-year tranche carried a coupon of 1.92 per cent, while the seven-year portion had a rate of 2.34 per cent and the 10-year issue pays 2.65 per cent, according to Maaal.

The maturities and coupons were the same as in the previous offering in August, also worth SR20 billion. That was the first issue that was sold to banks in the kingdom.

A separate offering in July was placed with state-owned financial institutions.  - Reuters




Tags: Saudi | Loans | bonds |

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