The document released by one of the senior executives in the bid said Saudi Arabia had sold sukuk in two tranches, each worth $3 billion, for six and ten years.
The document adds that the Kingdom sold the six-year tranche at a premium of 80 basis points over US Treasuries, and the ten-year tranche with a premium of 100 basis points over US Treasuries, which which is lower than the set guide price. Monday, given the strong demand from investors.
Order volume for the offering, which was also made available to investors in the United States, topped $27 billion before the offering began, according to a separate bank filing seen by Reuters on Monday.
Proceeds from the sale will be used for general local budget purposes.
The previous bond market offering by Saudi Arabia, the world’s biggest oil exporter, came in January, when the kingdom raised $10 billion in conventional bonds in three tranches.
Rising oil prices helped Saudi Arabia post a budget surplus for the first time in nearly a decade last year, but uncertainty over the demand outlook and macroeconomic pressures pushed prices up down this year.
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