Saudi int'l bond yields edge up Monday on anti-corruption probe

Saudi int'l bond yields edge up Monday on anti-corruption probe
Saudi int'l bond yields rise Monday on anti-corruption probe

Riyadh – Mubasher: Saudi international bond yields rose slightly in early trades in London during Monday after the Kingdom's government started anti-corruption probe, Reuters on Monday reported.

“The spread on the Saudi 30-year sovereign bond maturing in 2046 widened about 5 basis points,” the agency added.

“One-year USD/Riyal forwards were quoted as high as 183 points, their highest level since late September, compared to Friday’s close of 115 points.” Reuters noted.

Earlier on Monday Saudi authorities announced their plans to freeze the bank accounts of the officials and princes arrested during the government’s anti-corruption crackdown.

The arrests took place after obtaining approvals of several regulatory authorities.

On Saturday, the Saudi government arrested 11 princes, as well as some former and current ministers.

The arrested persons included Alwaleed bin Talal, whose has investments and firms that cover a wide range of sectors across the globe, bin Talal is the chairman of Kingdom Holding Company (KHC) has investments in Twitter, Citigroup, and News Corp.

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Source: Mubasher

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