Saudi makes euro diversification bid with pricing expected to be tightened 'considerably'

By Mariam Meskin
24 Feb 2021

Saudi Arabia was set to sell its second ever bond in euros on Wednesday. The bond, which will allow the kingdom to further diversify its investor base, is expected to tighten considerably from initial price thoughts.

The Reg S/144A dual tranche bond is to be split across three and nine year maturities. By Wednesday morning, initial price thoughts were 60bp area over mid-swaps on the three year and 90bp area over mid-swaps on the longer clip.

One investor in the morning seemed to think there ...

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