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Saudi to sell domestic bonds on Monday

DUBAI, May 19, 2016

The Saudi Arabian government plans to sell five-, seven- and 10-year, fixed-rate riyal bonds next week to finance its budget deficit, a banker aware of the transaction said on Thursday.

The five-year bonds will be offered at 58-63 basis points over US Treasuries, the seven-year bonds at 70-75 bps over and the 10-year bonds at 85-90 bps over, the banker said.

It was not clear how much debt the government planned to sell, but it has been issuing about SR20 billion ($5.33 billion) of domestic bonds monthly since late last year to help cover the deficit.

The bonds will be priced on Sunday and allocations will be made on Monday, the banker said.   -Reuters




Tags: Budget Deficit |

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