JPMorgan, HSBC among banks to help manage Saudi dollar bond: report

Saudi Arabia has selected JPMorgan, HSBC, Goldman Sachs Group Inc. and Citigroup Inc. to manage a dollar bond offering that may happen as soon as this month, Bloomberg reported, citing sources familiar with the matter.

According to Fahad Al-Saif, head of Saudi Arabia’s Debt Management Office (DMO), the Kingdom expects to issue international sukuk and a tranche of bonds during the first half of 2018, Argaam reported earlier.

The Kingdom covered budget deficit of SAR 230 billion through debt issuance worth SAR 134 billion in 2017.

For 2018, it plans to issue debt of SAR 117 billion to bridge an expected budget deficit of SAR 195 billion.