Saudi Arabia plans a $37bn, 3-part dollar-denominated sukuk to address fiscal shortfall and fund Vision 2030 diversification.
Saudi Arabia plans to issue a $37bn three-part dollar-denominated sukuk to address a $21bn fiscal shortfall and fund Crown Prince Mohammed bin Salman's economic diversification drive. The sukuk includes three-, six- and 10-year notes with yields around 85-110 basis points above US Treasuries. The bond sale follows a $12bn sovereign debt sale in January and aims to support Vision 2030, a plan to diversify the oil-dependent economy.
May 28, 2024
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