Saudi Arabia Selling Bonds
Saudi Arabia Selling Bonds

Saudi Arabia Selling Bonds

Saudi Arabia Selling Bonds

Saudi Arabia has started marketing US dollar-denominated sukuk, or Islamic bonds, with the issue expected to be around $2 billion in size, a document showed on Wednesday, Reuters reported .It would be the kingdom’s second international sale of sukuk after a $9 billion transaction last year. The exercise completes Saudi Arabia’s external funding requirements for 2018, according to the document. The kingdom, acting through the ministry of finance, started marketing the notes with an initial price guidance of around 145 basis points over mid-swaps. Citi, HSBC and JPMorgan are coordinating the transaction, and are joint lead managers with BNP Paribas, Mizuho and Samba Capital. The structure of the sukuk is the same adopted for the 2017 issue, comprising a mudaraba agreement, a form of Islamic investment management partnership, plus a murabaha facility that would trade commodities with a special purpose vehicle. The marketing exercise comes a day after sources told Reuters that Saudi Arabia was planning to issue a new dollar sukuk shortly.


Short URL : https://goo.gl/xmiSmz
  1. https://goo.gl/ZJj9da
  • https://goo.gl/tz6uPJ
  • https://goo.gl/orJPTJ
  • https://goo.gl/i82DNs
  • https://goo.gl/qqCAG8

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
UK Economy Will Shrink Without Brexit Deal
Britain’s economy will shrink if the country leaves the...

Add new comment

Read our comment policy before posting your viewpoints