Saudi Bonds to Join JPMorgan Index in $119 Billion Gulf Addition
- List has bonds from Saudi Arabia, Qatar, UAE, Bahrain, Kuwait
- Inclusion may attract billions of dollars to the region
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Saudi Arabia and four other Gulf nations will join JPMorgan Chase & Co.’s emerging-market bond indexes this month, potentially paving the way for billions of dollars in inflows into the securities.
The debt from the world’s biggest oil-exporting nation along with Qatar, the United Arab Emirates, Bahrain and Kuwait will represent about 11.8 percent of the EMBI Global Diversified Index and 12 percent of the EMBI Global beginning Jan. 31, according to JPMorgan. The indexes will track notes from 15 eligible issuers with a face value of about $119 billion.