Riyadh Eyes $4bn Local Currency Bonds

The Saudi government is in talks with local banks with a view to selling SR20mn ($5.3bn) of local currency bonds, according to local financial website Maaal. The new issue will bring to SR75mn ($20bn) the total amount of bonds issued by Riyadh this year. Issues resumed in July for the first time since 2007 with the sale of SR15bn ($4bn) in bonds for the local market.

At the time Fahd al-Mubarak, Governor of the Saudi Arabian Monetary Fund (SAMA) said that he expects to borrow up to SR100bn ($27bn) from the local market by the end of 2015 to sustain the government’s elevated level of public spending (MEES, 17 July).


DON'T HAVE AN ACCOUNT?


NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?

By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.

UPGRADE