Record Saudi Bond Sale Was a Start. Here Is What’s Next
- Kingdom to sell as much as $15 billion in global debt in 2017
- Officials said to have met banks about possible sukuk sale
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Saudi Arabia laid out key elements of its borrowing plans for 2017 as the kingdom seeks to capitalize on investor demand for its debut sale this year to finance the budget deficit.
The world’s biggest oil exporter plans to raise between $10 billion and $15 billion from international bond markets, Mohammad Al Tuwaijri, secretary-general of the Finance Committee at the Royal Court, told Saudi-owned Al Arabiya television. Authorities will sell about 70 billion riyals ($18.7 billion) locally, he said.