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Saudi Arabia issues 5- and 10-year dollar sukuk
Saudi Arabia announced the start of marketing dollar-denominated sukuk for 5 and 10 years, with subscription requests exceeding $9 billion. The guide price for the 5-year tranche was set at 100 basis points above U.S. Treasury bonds, and 110 basis points for the 10-year tranche. The final pricing is expected later today. The proceeds will be allocated to fund Saudi Arabia's general budget needs. Major local and international banks are participating in managing the offering, aiming to bolster government funding and stabilize the debt market.
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