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  • Sah bonds: All you need to know about Saudi Arabia’s first dedicated savings product for individuals

    Saudi Arabia has launched the subscription to its first savings product dedicated to individuals – Sah –  with a yield reaching 5.64 percent on the first issuance. Registration for the Islamic-compliant bond, issued by the Ministry of Finance, started on Sunday, Feb. 4, at 10 a.m. and will end on Tuesday, Feb. 6, at 3 p.m. The Sah bonds are organized by the National Debt Management Center and designed as a savings product for individuals, offering attractive returns.  The bonds are offered monthly according to the issuance schedule, with a one-year savings period, fixed returns, and profits disbursed at the end of the bond’s maturity date.

  • Davos 2024: Saudi Arabia to Sell More Eurobonds ‘As Opportunities Arise’

    Saudi Arabia plans to sell more bonds after issuing $12 billion this month, according to its finance minister. “We need to manage our liabilities not only for this year, but for the years to come,” Mohammed Al-Jadaan told Bloomberg Television at the World Economic Forum’s annual meeting in Davos, Switzerland. “We will tap the markets as opportunities arise.”

  • Saudi wealth fund PIF to raise $3.5 bln in Islamic bonds sale

    Saudi Arabia's sovereign wealth fund is set to raise $3.5 billion in a debut sale of Islamic bonds that drew strong demand, in the first major test for Middle Eastern markets since the latest Israel-Hamas conflict.

    The Saudi Public Investment Fund (PIF) on Wednesday launched $2.25 billion in five-year Islamic bonds, or sukuk, at 120 basis points (bps) over U.S. Treasuries and $1.25 billion in 10-year sukuk at 140 bps over Treasuries, a bank document on the deal showed.

  • UAE to Sell Dollar Bonds for the First Time Since June 2022

    The United Arab Emirates is returning to the international bond market for the first time in well over a year. The oil-rich Persian Gulf nation plans to sell dollar-denominated bonds with a 10-year tenor, according to a person familiar with the matter, who asked not to be identified because they’re not authorized to speak about it. The initial price target is set at about 85 basis points over Treasuries and the notes are expected to price today, the person said.

  • Saudi Arabia sells $6 bln in two-tranche Islamic bonds: Document

    Saudi Arabia has raised $6 billion from the sale of Islamic bonds, or sukuk, a document from a lead manager showed, returning to the debt markets for the second time this year, amid continued pressure on global oil prices and a cloudy macroeconomic outlook. The Kingdom sold a $3 billion six-year tranche at 80 basis points (bps) over US Treasuries (UST) and another $3 billion in 10-year notes at 100 bps over UST, tighter than guidance released on Monday, amid strong investor demand.

  • Investors Unloaded Saudi Arabian Bonds After Surprise OPEC+ Move

    “It’s largely because of valuations,” said Todd Schubert, the Dubai-based head of fixed-income research at Bank of Singapore. “Spreads are not compelling relative to corporates from similarly rated countries in Asia such as Japan or Korea.”

  • Saudi Electricity Company plans sale of dollar-denominated Islamic bonds

    SEC hired HSBC, Standard Chartered, JPMorgan Securities, First Abu Dhabi Bank, MUFG Securities, Mizuho, SMBC Nikko, SNB Capital, Al Rajhi Capital, Saudi Fransi Capital, Abu Dhabi Islamic Bank, Bank of China, Abu Dhabi Commercial Bank, Natixis, and Societe Generale as joint lead managers for the debt sale. The banks will hold meetings with fixed-income investors starting on Friday ahead of the sale of the bonds, or sukuk, as they are known. The proceeds from the sukuk may be in a green format, SEC, which is the kingdom's electric transmission monopoly, said.

  • Saudi Electricity Company plans sale of dollar-denominated Islamic bonds

    Saudi Electricity Company (5110.SE), which is almost 75%-owned by Saudi Arabia's sovereign Public Investment Fund, is planning to issue Islamic bonds denominated in U.S. dollars, it said in a bourse filing on Thursday. SEC hired HSBC, Standard Chartered, JPMorgan Securities, First Abu Dhabi Bank, MUFG Securities, Mizuho, SMBC Nikko, SNB Capital, Al Rajhi Capital, Saudi Fransi Capital, Abu Dhabi Islamic Bank, Bank of China, Abu Dhabi Commercial Bank, Natixis, and Societe Generale as joint lead managers for the debt sale.

  • Saudi Arabia’s PIF gets over $12 bln in orders for green bonds – document

    Saudi Arabia's sovereign Public Investment Fund (PIF) has received more than $12 billion in orders for a sale of dollar-denominated green bonds comprising tranches with tenors of seven, 12 and 30 years, a bank document showed on Tuesday. The orders exclude interest from joint lead managers for the debt sale expected to price later on Tuesday, the document showed.

  • Saudi Arabia Draws $20 Billion of Orders for Dollar Bonds

    Saudi Arabia raised $10 billion through its first Eurobond sale of 2023 on Tuesday. The kingdom had garnered over $35 billion of investor orders for the notes maturing in five, 10.5 and 30 years as it seeks to take advantage of cooling inflation that’s raised hopes of an easier rate hike trajectory. The order book excludes any joint lead-manager interest.