Global Debt Markets Present Lucrative Opportunities for Saudi Arabia’s Seizure

According to the Okaz newspaper, Saudi Arabia has received requests to issue international sukuk for 6 and 10 years worth more than $17 billion.

And Saudi Arabia yesterday (Monday) entered the international debt markets by selling sukuk in two tranches, and the document showed that the Kingdom offered sukuk in dollars with maturities of 6 and 10 years.

Saudi Arabia has set an opening target price of 110 basis points above US Treasuries for 6-year sukuk and 135 basis points for 10-year sukuk.

Banks Citigroup, JPMorgan and Standard Chartered have been appointed coordinators of the issue.

And the Kingdom opened 2023 with $10 billion in funding in international markets, taking advantage of a significant improvement in global markets compared to early 2022.

Source: Okaz

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