Officials from Saudi Arabia said it would do everything necessary to defend the currency's peg against the USD and stressed that there was no danger of this any time soon as it began meeting investors before its first cUSD10bn international sovereign bond sale. "They said they would defend the peg to the last dollar," one London investor told reporters. "They said it suited the structure of the economy they have, but on the other hand they were pretty clear they wanted to have a different structure in 15 years, which means they really won't need the peg by then," according to another investor. Many participants said the officials gave no clear indication, even in one-on-one conversations, of pricing or how much they aimed to issue. (Reuters)