Riyadh – Mubasher: Saudi Arabia will issue its first Euro-denominated bonds in two tranches, Reuters reported on Monday, citing a document issued by one of the banks arranging the deal.

The oil-rich kingdom aims to issue bonds in two tranches of eight and 20 years.

Goldman Sachs and Societe Generale have been appointed as global coordinators and bookrunners to arrange meetings with global investors.

In addition, BNP Paribas, Morgan Stanley, and Samba Capital have been hired as lead managers and passive bookrunners.

In January, the Saudi finance minister Mohammed Al Jadaan stated that the kingdom is planning to issue Euro-denominated bonds.

Previously, the Saudi finance ministry announced pricing the fourth international bond issue at a value of SAR 28.12 billion ($7.5 billion) under its Global Medium-Term Note Programme.