Saudi Arabia raises $5 billion in first bond issue in a year

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 a price of 105 basis points above the price of US Treasury bonds, at a value of $2.5 billion, and ten-year bonds at a price of 150 basis points above the price of US Treasury bonds, at a value of $2.5 billion.