Saudi Arabia Said to Target First Dollar Bond After Fed Meeting
- Kingdom said to plan sale of more than $10 billion of bonds
- Roadshow for investors said to be expected at end of September
Why Saudia Arabia Plans to Sell International Bond
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Saudi Arabia is planning to sell its first international bond in early October as the country seeks to plug a budget deficit estimated at about $80 billion this year, according to people with knowledge of the matter.
The government may hold a roadshow for potential investors in the last week of September and sell at least $10 billion of bonds early the following month, the people said, asking not to be identified as the information is private. The timing and size of the deal may change depending on market conditions, they said, with one person saying the kingdom wouldn’t be concerned by a potential U.S. interest rate increase next month.