Government suspends domestic bonds in March for the sixth month
The government has reportedly decided to suspend its monthly issue of domestic bonds in March for the sixth month in a row. Sources said the government did not want to crowd out private sector financing at a time when Saudi Aramco is preparing to make its first issue of SAR-denominated sukuk. The government has informed banks of Aramco's launch of its SAR37.5bn SAR sukuk issuance programme, and the company had reportedly begun meeting with potential sukuk investors last week for its debt sale - cSAR3-6bn (USD805mn to USD1.6bn) in size - that may take place as early as this week. The government is also gearing up for its first offer of USD sukuk, which could happen within the coming weeks.
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