Thndr Claps » Saudi Claps » Islamic Finance 🕌 » Saudi Arabia raises $5 billion 💸
The ClapSaudi Arabia sold $5 billion in bonds and Sukuks, after demand exceeded $26.5 billion, according to Reuters.
The DeetsThe world’s largest oil exporter has sold 6-year Sukuks for $2.5 billion at a premium of 105 basis points above the yield on US bonds for the same term.
In addition to that, KSA also sold 10-year bonds for $2.5 billion at a yield of 150 basis points above the yield on US bonds for the same term.
The OfferingThe pricing of Saudi debt instruments was lower than the return that was specified prior to the offering.
KSA was offering a premium on Sukuks of 135 basis points and a premium on bond yields of 180 basis points.
The bond and Sukuk offering was managed by BNP Paribas, Goldman Sachs, and HSBC.
Why this MattersThis is KSA’s first international bond sale since November 2021.
What NowA disclosure to the London Stock Exchange showed that Saudi Arabia has set a maximum amount of $1 billion for a tender to buy back bonds due between 2023 and 2026.
© Thndr. All rights reserved
Disclaimer: Thndr does not provide investment advice, individual investors are responsible for their own decisions or can seek independent advice. The value of investments can go up and down. Thndr is a trading name of Thndr Securities Brokerage which is authorised and regulated by the Financial Regulatory Authority (FRA). Registered in Egypt (no. 804)..© Thndr. All rights reserved
Hello👋 We want you to be able to express your opinions on anything and everything finance and economics related to the Egyptian and US markets.
This is why we introduced Thndr Thinkers💭
Let’s go through some housekeeping notes before you jump into publishing your article to all Thndr Claps readers!
Type of Content📝 We want to see market-relevant content that shows good analysis, please! Base your articles on facts
Don’t be shy, explain🗣 Flex your knowledge to us, and we’ll share it with all the readers!
Be Original🙏 Please don’t copy. No one likes a copycat. All submissions are welcome as long as they’re yours
Make your title attractive🤩 A title is like the cover of your book. Attractive enough to make you look at the book but also clear enough to tell you what the book is about.
Clean🧹 We’re all humans and we all make mistakes. But please try and clean up the article so it’s clear for all the readers
No promotional content🚫 We don’t publish promotional content.
Any questions about becoming a Thndr Thinker? Email email@example.com and we’d be happy to help!
Normally, your article will be published within 24 hours of submission (if you followed the guidelines)