Saudi Arabia sells $6 bln in two-tranche sukuk

Riyadh city

Saudi Arabia raised $6 billion from the sale of dollar-denominated sukuk, Reuters reported, citing a document from a lead manager.

 

The sukuk was divided into two tranches of $3 billion each with six- and 10-year terms.

 

Saudi Arabia sold the six-year tranche at 80 basis points (bps) over US Treasuries (UST) and the 10-year notes at 100 bps over UST.

 

Reuters reported earlier that the Kingdom received requests worth $17 billion for dollar-denominated sukuk.

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