by Amruth Sundarkumar | Oct 26, 2022 | Sovereign Bonds, Sovereigns
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...
by Amruth Sundarkumar | Oct 19, 2022 | Sovereign Bonds, Sovereigns
Saudi Arabia raised $5bn via a dual-tranche sukuk issuance, its first dollar issuance since November last year. It raised: $2.5bn via a 6Y sukuk at a yield of 5.268%, 30bp inside initial guidance of T+135bp area. The new sukuk offer a new issue premium of 17.8bp over...
by Amruth Sundarkumar | Aug 26, 2022 | Sovereign Bonds, Sovereigns
Saudi Arabia plans to invest $1bn in Pakistan, as per a Saudi state TV report. Further, it stated that to support Pakistan’s troubled economy, Saudi’s King Salman Bin Abdulaziz has given directives to officials. Pakistan also expects the IMF to release $1.2bn in...
by Amruth Sundarkumar | Aug 16, 2022 | Sovereign Bonds, Sovereigns
Benefiting from increasing oil prices, Bahrain posted a 52% spike in revenues contributing to a budget surplus of $88mn in H1 2022. This is despite it being the smallest oil producer in the Gulf region. Bloomberg notes that this is a positive reversal from its $1.38bn...
by Amruth Sundarkumar | Aug 5, 2022 | Sovereign Bonds, Sovereigns
Saudi Arabia has posted a 50% YoY jump in its budget surplus to SAR 78bn ($20.8bn) in Q2 on higher crude oil prices and production. Oil revenue jumped 89% YoY to SAR 250.4bn ($66.6bn) while non-oil revenue rose 3% YoY to SAR 120bn ($31.9bn) vs. expenditures of SAR...
