The government has reportedly contacted banks to sell them cSAR20bn (USD5.34bn) of bonds in its domestic debt sale this month, which will be allocated next week. This month's domestic debt sale will comprise five-, seven- and 10-year bonds in fixed- and floating-rate tranches. The fixed-rate bonds would be offered at 64-69 bps above U.S. Treasuries for the five-year tranche, 76-81 bps over for seven years and 89-94 bps over for 10 years. The floating-rate bonds will be offered at 25-30 bps below the three-month SAIBOR for five years, 10-15 bps below for seven years and flat to 5 bps above for 10 years. Since last August, the government has been selling cSAR20bn of domestic bonds to banks every month to fund a budget deficit caused by low oil prices. (Reuters)