Saudi Arabia set to raise $11 bln from bond sale

11/04/2018 Argaam

 

Saudi Arabia is close to raising $11 billion from selling a three-tranche dollar bond, its fourth international debt sale, Reuters reported, citing a document from one of the offering’s coordinators.

 

The government sold seven-year notes worth $4.5 billion at 140 basis points (bps) over US Treasuries; 12-year notes worth $3 billion at 175 bps over US Treasuries; and 31-year notes worth $3.5 billion at 210 bps over the similar benchmark.

 

Combined order books for the bond issue went came in excess of $50 billion earlier on Tuesday.

 

Citigroup, GIB Capital, Goldman Sachs, HSBC and Morgan Stanley are the global coordinators for the issue.

 

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