April 13, 2017 / 6:17 AM / 4 months ago

CORRECTED-Saudi Arabia's debut $9 billion sukuk seen rising in grey market -traders

(Corrects the premium to a cash price premium, not a percentage increase)

DUBAI, April 13 (Reuters) - Saudi Arabia’s $9 billion debut international sukuk, launched and priced on Wednesday, was seen trading at a cash price premium of roughly 0.5 cents over the bond issue price in the grey market early on Thursday, traders said, illustrating demand that had generated orders of $33 billion.

The dollar sukuk, with a coupon of 2.894 percent for the five-year paper and 3.628 percent for the 10-year tranche, is the largest-ever Islamic bond and the largest emerging markets debt sale this year, beating Kuwait’s $8 billion conventional bond in March. (Reporting by Davide Barbuscia; Editing by David Goodman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below