Wednesday 12, September 2018 by Kudakwashe

Saudi Arabia expected to announce dollar Sukuk sale soon

 

The size of the planned Sukuk will be determined and depends on market appetite.

Saudi Arabia is expected to announce a potential new US dollar-denominated Sukuk deal, reported Reuters.

The new debt issue would be the Kingdom’s second international Sukuk, following a $9 billion debut deal last year.

Saudi Arabia is working on a number of economic reforms aimed at diversifying its economy and has projected a fiscal deficit of SAR 195 billion of GDP this year, down from SAR 230 billion last year. 

Over the past two years, Saudi Arabia raised $50 billion through international conventional and Islamic bonds.

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