Saudi Arabia planning series of bond auctions after initial USD15bn sale in October
Saudi Arabia’s first international debt sale has reportedly generated large interest from Asian investors that the Kingdom is weighing a full pipeline of bonds to follow a USD15bn initial auction as early as October. Initial soundings have shown strong Asian demand for the 30-year maturity, while US investors prefer a 10-year maturity, one source said. A second sale could be possible next year if oil prices remain below USD50 a barrel, according to another source. Saudi officials are expected to discuss their plans with potential investors at next week’s G20 meeting in China. A roadshow – which will set the final size and tenor of the deal - could then begin at early-October with the deal potentially closing around the time of the annual meetings of the International Monetary Fund and World Bank in Washington on 7-9 October. (Financial Times)
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