Saudi Arabia plans to follow its record-breaking debut on global debt markets with an Islamic bond issue in a sale that could come as early as February.
The sharia-compliant sukuk will form part of a pipeline of bond sales to finance the kingdoms budget deficit and invest in economic diversification away from oil and is likely to appeal to regional investors in the Gulf.
Last year, Saudi Arabia set a record for developing countries with its first sovereign bond sale, attracting $67bn in investor bids for a $17.5bn issue.
Not all of the 10 banks appointed to help arrange the initial bond offering are expected to be hired to manage the second transaction, although joint global co-ordinators Citi, HSBC and JPMorgan are in a strong po…
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