Saudi sells largest dollar sukuk on record
Saudi Arabia’s $9bn sukuk was, for the second time, a staggering market debut from the sovereign. But size came at a price and the issuer paid up over its conventional curve, writes Virginia Furness.
However strong local demand is expected to evaporate any premium at which the sukuk trades to Saudi’s conventional bonds in the secondary market.
The sukuk is the largest Islamic bond ever to be printed, setting a strong benchmark for both the region and Saudi Arabia’s corporate issuers.It follows Saudi’s $17.5bn bond ...
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