JEDDAH: The Kingdom is set to launch its long-awaited first international bond sale on Wednesday.
The Financial Times reported that bankers connected to the sale had said that initial price guidance for the bond, believed to be between $10 billion and $15 billion, would be released Wednesday.
The bond sale would be the largest international debt issuance in the Middle East and comes as the kingdom attempts to tackle a substantial budget deficit accrued as a result of the low oil price.
The newspaper said that strong demand was expected for the debut bond, quoting one banker as saying: “All going well, they should print later in the week”.
A roadshow to promote the bonds in the US and UK was scheduled to conclude on Tuesday.
The Financial Times reported that bankers connected to the sale had said that initial price guidance for the bond, believed to be between $10 billion and $15 billion, would be released Wednesday.
The bond sale would be the largest international debt issuance in the Middle East and comes as the kingdom attempts to tackle a substantial budget deficit accrued as a result of the low oil price.
The newspaper said that strong demand was expected for the debut bond, quoting one banker as saying: “All going well, they should print later in the week”.
A roadshow to promote the bonds in the US and UK was scheduled to conclude on Tuesday.
