The Kingdom of Saudi Arabia's flag
Saudi Arabia sold $5 billion in Islamic and conventional bonds for which demand topped $26.5 billion, Reuters reported, citing a bank document.
The Kingdom sold $2.5 billion in six-year sukuk at 105 basis points (bps) over US Treasuries (UST) and $2.5 billion in 10-year bonds at 150 bps over UST, the bank document showed.
The pricing was tightened from initial guidance of around 135 bps over UST for the sukuk and around 180 bps over UST for the 10-year bonds.
On Oct. 18, Reuters reported that Saudi Arabia plans to issue new bonds and sukuk denominated in US dollars, and has also made an offer to holders of existing bonds to buy them in cash, according to data available with Argaam.
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