Saudi Arabia raises $7.5B in bond sale

Economy | Markets 1/10/2019, 1:37 PM
Saudi Arabia raises $7.5B in bond sale

The Ministry of Finance in Riyadh said on Thursday that it successfully priced the fourth international issuance of global medium-term notes denominated in dollars. Saudi Arabia sold debt securities maturing in ten years for $4 billion in debt, while investors bought $3.5 billion in bonds due in 2050. Orders came in at a strong $27.5 billion, according to public data.

Authorities said the transactions should settle on or about January 16. The yields reportedly landed 15 and 20 basis points higher, respectively, than benchmarks, after an initial offer of 40 points above the market-traded instruments. Anonymous insiders quoted by the media said the spreads against corresponding United States Treasuries were 175 and 230 points.

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