Saudi Arabia buys 4 existing US dollar-denominated bonds at discount to nominal value: Report

Logo of the National Debt Management Center (NDMC)

Saudi Arabia has purchased two of its existing US dollar-denominated bonds at a discount ranging between 5.6-5.9% of the nominal value, along with two others from investors at a lower discount, Al Eqtisadiah newspaper reported, citing sources in the know.

The transactions were carried out at prices varying from 99.53 to 94.01 cents on the US dollar.

Some asset management companies took advantage of the offer presented by Saudi Arabia in order to provide liquidity to their bond funds amid realized exit cashflows from them, the newspaper added.

Earlier, the National Debt Management Center (NDMC) announced, on behalf of the Ministry of Finance, the completion of the first partial re-purchase of some US dollar-denominated bonds maturing in 2023, 2025 and 2026, at a total value of $1.268 billion (about SAR 4.755 billion), according to Argaam’s data.