Saudi Arabia plans to market euro-denominated bonds destined for global debt markets again this year.
According to Arabianet, Bloomberg reported that Saudi Arabia intends to issue standard euro bonds in two tranches for a period of three and nine years, as it has chosen banks, including BNP Paribas, HSBC, and Goldman Sachs, as global coordinators, in addition to appointing Samba Capital, JP Morgan, Citigroup, and Standard Chartered, as underwriting directors.
Saudi Arabia had raised $ 5 billion from selling bonds in two tranches, one for 12 years and the other 40 years.
The kingdom sold $ 2.75 billion in 12-year bonds at a yield of 130 basis points over the 10-year US Treasury, and $ 2.25 billion for 40 years at 3.45%. The yield on the 12-year tranche was cut 35 basis points and the 40-year tranche was reduced 30 basis points from the initial indicative price.
and attracted more than $ 13 billion in underwriting requests for 12-year bonds and over $ 9 billion in requests for 40-year bonds.
