Saudi mandates for ‘opportunistic’ euro bond

Saudi_Arabia_Adobe_575x375_Sep14
By Mariam Meskin
23 Feb 2021

Saudi Arabia mandated banks on Tuesday to arrange a bond in euros, just a month after it last entered the market to raise dollars. The "opportunistic" bond will enable the kingdom to achieve tight pricing and diversification, market participants said.

The Gulf state, rated A1/A by Moody’s and Fitch, was sounding out investor interest with a series of calls on Tuesday in a Reg S/144A dual tranche benchmark across three and nine year tranches.

The kingdom has mandated BNP Paribas, Goldman Sachs and HSBC as global coordinators, while Citi, ...

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