Saudi Arabia aims to raise over $5 billion in bond-market return
Published 11 Jan,2021 via Bloomberg Markets - Saudi Arabia is preparing to return to global capital markets with a bond sale aimed at raising about $5 billion to help cover financing needs heightened by last year’s slide in oil prices, according to people with knowledge of the plan.
The kingdom is close to hiring banks for a sale earmarked for as early as this month, the people said, declining to be identified because the matter is private. No final decision on the timing has been made and the country may still put off the sale should market conditions deteriorate, they said. The Finance Ministry in Riyadh didn’t immediately respond to requests for comment.
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Archana Narayanan and Matthew Martin