Al Akaria signs $5bn deal with Triple Five to build entertainment and commercial center in Riyadh

(AN File photo)
Updated 01 November 2019

Al Akaria signs $5bn deal with Triple Five to build entertainment and commercial center in Riyadh

RIYADH: Saudi Arabia’s Al Akaria has signed an investment agreement with Triple Five worth $5 billion to develop American Dream, “an international tourist destination” the Saudi Arabian General Investment Authority (SAGIA) said on Thursday.

This brings the value of deals announced by SAGIA at the Future Investmnet Initiative conference to $20 billion, it said in a statement.


Saudi Arabia starts selling triple-tranche dollar bonds

Updated 53 min 50 sec ago

Saudi Arabia starts selling triple-tranche dollar bonds

  • The kingdom is offering initial price guidance of around 110 basis points (bps) over US Treasuries for the seven-year paper

DUBAI: The government of Saudi Arabia started marketing on Tuesday US dollar denominated bonds split into tranches of seven, 12 and 35 years, a document showed.

The kingdom is offering initial price guidance of around 110 basis points (bps) over US Treasuries for the seven-year paper, 135 bps over the benchmark for the 12-year tranche, and 180 bps over for the 35-year.

Citigroup, Morgan Stanley and Standard Chartered are joint global coordinators and lead managers, and BNP Paribas, HSBC, JPMorgan and NCB Capital have been hired as passive lead managers.