Saudi Arabia announced via an exchange filing that it will be buying back $1.27bn worth of its bonds due between 2023 and 2026. Details of the buyback are as follows:
  • ~$632.5mn of its 2.875% 2023s
  • ~$249mn of its 4% April 2025s
  • ~$99mn of its 2.9% October 2025s
  • ~$287mn of its 3.25% 2026s
The buyback settlement date is 27 October. This comes a week after the Kingdom announced the buyback, after raising $2.5bn via new 6Y and 10Y sukuk. Its 3.25% 2026s traded 0.31 points higher to 93.695, yielding 5.01%.
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