Saudi Arabia plans $5 bln bonds: sources

12/01/2021 Argaam

City of Riyadh

Saudi Arabia is planning a bond sale worth about $5 billion to help cover financing needs, Bloomberg reported, citing people familiar with the matter.

 

The Kingdom is close to hiring banks for a sale earmarked for as early as this month, the sources said, adding that no final decision on the timing has been made.

 

The offering may still be put on hold, should market conditions deteriorate.

 

The Ministry of Finance expected that public debt will grow from SAR 854 billion by end of 2020 to SAR 941 billion in 2021, according to data compiled by Argaam.

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