Saudi Arabia returns to the global debt market by offering two tranches of euro bonds

The Kingdom of Saudi Arabia is heading to return to global debt markets again this year; By marketing euro-denominated bonds; To take advantage of lower borrowing costs, and reduce your dependence on dollar debt.

A source told Bloomberg News that Saudi Arabia plans to issue Eurobonds in two tranches, for a period of 3 years and 9 years.

and indicated that the Kingdom has chosen international banks such as BNP Barbia, HSBC, and Goldman Sachs; Global Coordinators, with Samba Capital, GBMorgan, Citigroup and Standard Chartered as Lead Managers.

And last January, Saudi Arabia announced the collection of $ 5 billion from the offering of dollar bonds consisting of two parts, after the total number of subscription requests reached more than $ 22 billion. The coverage rate has exceeded 4 times.

On July 3, 2019, the Kingdom's Ministry of Finance announced the successful completion of the pricing of the first offering of international bonds denominated in the euro, as part of the government's international program for the issuance of debt instruments.