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KSA begins marketing dual-tranche dollar bonds

KSA begins marketing dual-tranche dollar bonds
KSA hired Goldman Sachs International, HSBC, and JPMorgan as global coordinators for the sale.

Riyadh – Mubasher: Saudi Arabia started on Tuesday marketing a dual-tranche benchmark US dollar-denominated bond sale with tenors of 12 and 40 years, Reuters said citing a document.

This comes as the Gulf country wants to plug a large fiscal deficit. The kingdom gave initial price guidance of around 165 basis points (bps) over 10-year US treasuries for the 12-year tranche and around 3.75% for the 40-year bonds.

Saudi Arabia hired Goldman Sachs International, HSBC, and JPMorgan as global coordinators for the sale, which is likely to close later this day.

BNP Paribas, Citi, NCB Capital, and Standard Chartered joined them as book runners and passive joint lead managers.