Riyadh – Mubasher: Saudi Arabia announced setting the initial price guidance for its soon-to-be-launched US dollar-denominated debut sukuk.
The Kingdom set guidance “in the 115 basis points over mid-swaps area for a 5-year tranche and in the 155 basis points over mid-swaps area for the 10-year tranche,” Reuters reported on Tuesday, citing a document issued by a Saudi leading bank.
“The 144 A, Regulation S, senior unsecured sukuk is expected to price on Wednesday,” the news agency added.
The sukuk’s joint lead managers and joint bookrunners are BNP Paribas, Citi, Deutsche Bank, HSBC, J.P. Morgan, and NCB Capital. Earlier this month, Saudi Press Agency (SPA) reported that the Saudi Ministry of Finance had established an international programme for sukuk issues.
In October 2016, Saudi Arabia gathered $17.5 billion from a US dollar-denominated bond issue.
Saudi Arabia is given an "A1" rating by Moody's and "A+" by Fitch.
