* Saudi announces roadshows for long-awaited bond
* Officials to meet investors starting Oct. 12
* Bond to contain 5-, 10-, 30-yr tranches
(Adds details, context)
By Sujata Rao
LONDON, Oct 10 Saudi Arabia will meet fixed
income investors starting Oct. 12 as it prepares to sell its
long-anticipated debut international sovereign bond, arranging
banks said on Monday.
The transaction, which will help the kingdom partly meet the
shortfall in its state budget brought on by the slump in oil
prices, is expected to be one of the largest ever debt sales by
an emerging markets nation, with commentators forecasting a
trade worth upwards of $10 billion.
The world's largest oil exporter will sell a
dollar-denominated bond with tranches maturing after five, ten
and 30 years following the roadshow programme, subject to market
Citigroup, HSBC and JP Morgan have been selected as global
coordinators, and seven more banks have been made joint
book-runners for the trade which is structured to be sold to
investors including those in the United States, an announcement
Roadshows will be held in London on Wednesday and Thursday,
before three days of meetings in the United States which will
conclude on Oct. 18 in New York, according to a separate
statement from arranging banks.
Among the Saudi officials who will participate in the
investor meetings are Minister of State Mohammed al-Sheikh, the
head of treasury at state oil giant Saudi Aramco
and staff members of the Ministry of Finance and the Saudi
central bank, the separate statement added.
(Additional Reporting by Sudip Roy; Writing by David French;
Editing by Andrew Roche)