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  • Drone Revelation Underscores Defense/Security Bonds
     

    The recent news reports that American remotely operated aircraft are operating against Al Qaeda targets in Yemen should come as no surprise to those who have followed the close collaboration between the United States and Saudi Arabia over the course of the historic relationship. The revelations may be uncomfortable to those who seek to keep […]

     
  • Saudi female entrepreneurs exploit changing attitudes
     

    In Saudi Arabia, a small but determined number of women are overcoming obstacles to build their own thriving businesses. Social constraints in the conservative Kingdom have not stopped women from amassing substantial individual wealth. An estimated $11.9 billion is held by women primarily in bonds and bank accounts, according to asset managers Al Masah Capital. […]

     
  • Opening the TASI: What You Need to Know
     

    Saudi Arabia, the world’s largest oil exporter and the Middle East’s biggest economy, is about to complete a gradual process to open its stock market, known as the Tadawul or TASI, directly to international investors for the first time.  The initial step toward this action was to give other GCC countries the right to invest […]

     
  • What to Know About the TASI Opening
     

    Saudi Arabia, the world’s largest oil exporter and the Middle East’s biggest economy, is about to complete a gradual process to open its stock market, known as the Tadawul or TASI, directly to international investors for the first time. The initial step toward this action was to give other GCC countries the right to invest […]

     

MUST-READS

  • Saudi Arabia reduces US bonds holdings by 27.9% in 2021

    Saudi Arabia reduced its holdings of US Treasury bonds to $132.9 billion by the end of February, down by $2.2 billion on a monthly basis, Okaz newspaper reported. Saudi Arabia has reduced its holdings by 27.93 percent during the last 12 months to $132.9 billion by the end of February of this year. The Kingdom maintained its 14th position among the largest holders of US bonds in February 2021.

  • Saudi Arabia’s SRC gets ‘A’ Fitch rating before planned bonds, Al Arabiya reports

    The company, which is wholly owned by sovereign fund the Public Investment Fund, has a portfolio of loans of 6.5 billion riyals ($1.73 billion) at the end of 2020, Al Arabiya said in a report.

  • Aramco pipeline investors to refinance loans with bonds next year

    EIG Global Energy Partners will lead a yet-unnamed consortium to issue billions of dollars in bonds across two or three transactions to replace bank debt backing an investment in Saudi Aramco’s oil pipeline assets, two sources said. The Washington, D.C.-based firm’s consortium will issue bonds to replace $10.5 billion in so-called staple financing that was arranged by Aramco for potential suitors to take the 49% stake, the sources said.  

  • FTSE Puts India, Saudi Bonds on Watchlist for Possible Inclusion

    The index provider said it has been in talks with index users and regulators in Saudi Arabia to understand the market structure and investors’ experience. It will continue this interaction before its next country classification review in September 2021, it said.

  • Saudi Arabia raises $5 billion via dual-tranche bonds

    Saudi Arabia raised $5 billion in a dual-tranche bond sale with tenors of 12 and 40 years, a document showed, as it seeks to plug a large fiscal deficit. The world’s top oil exporter has taken a severe blow from the pandemic, which, along with an oil price war between Saudi Arabia and Russia last year, sent oil prices tumbling.

  • Saudi Arabia markets dual-tranche dollar bonds – document

    Saudi Arabia began marketing a dual-tranche benchmark U.S. dollar-denominated bond sale on Tuesday with tenors of 12 and 40 years, a document showed, as it seeks to plug a large fiscal deficit. It gave initial price guidance of around 165 basis points over 10-year U.S. treasuries for the 12-year tranche and around 3.75% for the 40-year bonds, the document from one of the banks on the deal showed.

  • Kushner Cos. Plans to Raise $100 Million by Selling Bonds in Israel

    The deal would be Kushner Cos.’ first capital raise on the Israeli bond market, as well as the largest unsecured capital raise by the family-controlled business that owns billions of dollars worth of apartments, office buildings and other commercial property in the U.S.

  • Gulf bonds likely to set new record in 2021 amid budget squeeze

    The oil-rich region saw a second consecutive year of record international bonds, topping $100 billion, as issuers’ finances were battered by the COVID-19 pandemic along with low oil prices, with a few issues still possible before year-end.

  • Aramco markets five-tranche bonds, seeking cash amid cheap oil

    Last year, Aramco priced inside the sovereign of Saudi Arabia’s curve, but financial sources expect its new bonds to be around 10 bps wider, suggesting investors see a slightly higher risk profile after this year’s drop in oil prices.

  • Aramco Turns to Bonds to Help Fund $75 Billion Dividend

    Saudi Aramco, the world’s biggest oil company, is set to return to the bond markets for the first time since April of last year as it seeks to fund a $75 billion dividend commitment. Aramco, which hired banks including Goldman Sachs Group Inc. for the sale, needs to raise debt after slumping crude prices caused profit to fall by 45% in the third quarter. That’s left it unable to generate enough cash to fund the investor payouts, almost all of which go to the Saudi government, which needs the money to plug a widening budget deficit.