#debt markets
The kingdom sold $5bn, $3bn and $4bn in tenors of three, six and 10 years, respectively, and the total order book reached around $37bn
The growth in the country’s debt capital markets demonstrates its expanding financial landscape and its strategic role in the global Islamic finance market
GCC companies and governments have rushed to tap debt markets since the start of the year to take advantage of recent falls in global interest rate
The debt is rated Aa2, the third-highest investment grade, by Moody’s and one step lower at AA- by Fitch Ratings
The stock exchange said that the listing will be in three tranches, starting on June 21
The triple-tranche bond sale generated strong demand, with orders worth over $27bn
Foreign investment levels in Saudi Arabia’s capital markets are on a tear, with demand rising dramatically over the last eight years since regulators started opening up trading.