The duration of Saudi bonds will be between 5 and 30 years (Getty)
delegate Saudi Arabia a Banks organize the issuance Bonds denominated in dollars On three tranches, the price is expected later on Tuesday.
BNP Paribas, Citi, Goldman Sachs International, JPMorgan and Standard Chartered Bank have been appointed to coordinate the offering globally and to manage the offering’s underwriting portfolio. NCB Capital will participate in the issue.
Saudi Arabia Starts Sale of Three-Part Dollar Bond, Joining Global Issuance Blitz Spurred by Lower Financing Costs and Reduced Volatility https://t.co/s2wSEdST0h
— Bloomberg Middle East (@middle east) January 10, 2023
While the US agency “Bloomberg” quoted a source who it described as an insider, saying that the terms of the bonds ranged between 5 and 30 years, and the initial target price for the bonds will increase by about 140 basis points on Treasury bills USA for 5 -year sukuk.
In 2022, Saudi Arabia achieved a financial surplus of 102 billion riyals ($27.1 billion), which represents about 2.6% of GDP, supported by oil revenues, which increased by 50% in 2022, until it reached 842 billion riyals ($224 billion). what was considered to be the first fiscal surplus for the Kingdom of Saudi Arabia since 2013.
Last month, the Saudi Ministry of Finance revealed its budget estimates for next year 2023, which included expectations of a surplus of 16 billion riyals ($4.26 billion).
The ministry said, in a preliminary statement, that it expects revenue this year estimated at 1.130 trillion riyals ($300 billion), compared with expenditures of 1.114 trillion riyals ($296.2 billion).
(Reuters, The New Arab)
