Saudi Ara­bia’s dol­lar bond

Times of Oman - - MARKET -

DUBAI: Saudi Ara­bia’s planned triple-tranche in­ter­na­tional bond is­sue is ex­pected to be $12.5 bil­lion in size, and or­der books to­tal over $40 bil­lion, sources fa­mil­iar with the mat­ter said on Wed­nes­day. The bond, split into three tranches ma­tur­ing in March 2023, March 2028 and Oc­to­ber 2047, will price later on Wed­nes­day. Ini­tial price guid­ance for the three tranches was in the 130 ba­sis points over U.S. Trea­suries area for the long five-year tranche, 165 bps over for the long 10-year and 200 bps over for the 30-year. Guid­ance was tight­ened by 15 bps, with the bond ex­pected to price within a range of plus or mi­nus 5 bps across the three tranches, IFR re­ported on Wed­nes­day.

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