Saudi Arabia sets a maximum amount of $1 billion to buy back bonds

A disclosure to the London Stock Exchange showed on Wednesday that Saudi Arabia has set one billion dollars as the maximum amount accepted in a tender to buy back bonds due between 2023 and 2026. On Tuesday, Saudi Arabia sold conventional bonds and sukuk for five billion dollars, after demand for them exceeded 26.5 billion dollars, in the kingdom’s first return to the debt markets in nearly a year.

This is the first international bond sale by Saudi Arabia, since November 2021. A banking document showed that the kingdom sold six-year sukuk at 105 basis points above the price of US Treasury bonds, worth $2.5 billion, and ten-year bonds at 150 basis points. Over $2.5 billion in US Treasuries