Uncategorized
Investors Lap Up Saudi Arabia’s First Bond Since Drone Attacks
(Bloomberg) –Saudi Arabia raised $2.5 billion of Islamic bonds in its first international debt sale since a missile and drone attack on its oil industry.
The Gulf monarchy sold the sukuk securities maturing in October 2029 at 127 basis points more than the benchmark midswap rate, down from an anticipated range of between 145 and 150 basis points, as it received more than $13 billion of orders.
The sale reflects how demand for Saudi Arabia’s Islamic bonds has remained buoyant even as its conventional dollar debt has underperformed that of peers this month. Last month’s strikes on Saudi Aramco facilities laid bare the vulnerability of the kingdom’s lifeblood industry, prompting Fitch Ratings to downgrade the debt. The boost from the kingdom’s inclusion in JPMorgan Chase & Co.’s emerging-market dollar-bond indexes earlier this year has also faded.
“The main appeal of the offering was overall pent up demand for sukuk,” said Abdul Kadir Hussain, head of fixed-income asset management at Dubai-based Arqaam Capital. “The deal was priced very tight to the existing curve.”
The issuance took the amount of sukuk sold by governments and companies in the Gulf to $17.2 billion this year. They raised $17.7 billion of the securities in all of 2018.
-
Artificial Intelligence4 weeks agoTop 5 Interesting Things AI Did This Month – September 2026 Edition
-
Fashion2 weeks agoLuxury Watches That Could Appreciate Over the Next Decade [2026 Auction Buyer Guide]
-
Highlights2 months agoOERLive: Top 10 Mathematical Problems AI Has Solved or Transformed
-
Banking & Finance1 month agoThe GCC’s 10 Richest Billionaires: Inside US$253.5 Billion of Wealth
-
Magazines2 months agoOER Magazine July Edition 2026
-
Magazines2 months agoAl Mar’a Magazine July 2026
-
Alamaliktistaad Magazines2 months agoAlam Al-Iktisaad Magazine July 2026 Edition
-
Economy2 weeks agoOER Magazine September Edition 2026
