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Established in 2006 as a Community of Reality

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Reuters: Saudi Arabia will start marketing dollar bonds to supply its coffers with money

rocky
rocky
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Reuters: Saudi Arabia will start marketing dollar bonds to supply its coffers with money Empty Reuters: Saudi Arabia will start marketing dollar bonds to supply its coffers with money

Post by rocky on Wed 15 Apr 2020, 2:47 am

[size=39]Reuters: Saudi Arabia will start marketing dollar bonds to supply its coffers with money
April 15, 2020
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Reuters: Saudi Arabia will start marketing dollar bonds to supply its coffers with money 2c02abec-a56c-49f8-af36-8ca668004695_16x9_1200x676
The Saudi Investment Bank
Reuters reported that a "document" revealed that Saudi Arabia began marketing its dollar bonds in three sectors on Wednesday, as the largest oil exporter in the world is seeking to re-supply its government coffers with funds after it was damaged by low oil prices and expectations to cut production.
The Kingdom, through the Ministry of Finance, markets five and a half years of papers at about 315 basis points over US Treasury bonds, ten and a half years bonds at about 325 basis points and forty-year bonds at about 5.15 percent.
The size of the deal will depend on the market's turnout, but bankers and fund managers say they expect a multi-billion dollar process.
City, Goldman Sachs and H were appointed. Ace. In me. CNN, Bank of China, Meizuho, ​​and mother. Yo. F. Gee, AC. Mother. In me. CNN, and Samba Capital to arrange the debt sale, which is scheduled to close later on Wednesday.
Reuters news agency, which published the news, said that a spokesman for the Saudi Ministry of Finance had not yet responded to a request for comment.
Riyadh raised the debt ceiling to 50 percent of GDP from a previous level of 30 percent in March, as it plans to increase borrowing to offset the decline in oil revenues in light of an economic slowdown caused by the spread of the Corona crisis.
The planned bond issue comes after Qatar and Abu Dhabi successfully sold a combined value of $ 17 billion in bonds last week.
It also follows a historic agreement signed on Sunday to cut oil production between two major producers, which while it may contribute to stabilizing the oil market, is expected to place additional pressure on Riyadh's revenues this year.


https://www.alhurra.com/business/2020/04/15/%D8%B1%D9%88%D9%8A%D8%AA%D8%B1%D8%B2-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%B3%D8%AA%D8%A8%D8%AF%D8%A3-%D8%AA%D8%B3%D9%88%D9%8A%D9%82-%D8%B3%D9%86%D8%AF%D8%A7%D8%AA-%D8%AF%D9%88%D9%84%D8%A7%D8%B1%D9%8A%D8%A9-%D9%84%D8%AA%D8%B2%D9%88%D9%8A%D8%AF-%D8%AE%D8%B2%D8%A7%D8%A6%D9%86%D9%87%D8%A7-%D8%A8%D8%A7%D9%84%D9%85%D8%A7%D9%84

    Current date/time is Fri 18 Sep 2020, 9:49 pm