March 16, 2020 / 8:22 AM / 18 days ago

Gulf bonds extend losses as coronavirus fears, oil price war deepen

DUBAI, March 16 (Reuters) - International bonds issued by borrowers in the Gulf extended losses on Monday, including Saudi government bonds and those issued by its oil giant Saudi Aramco, as the coronavirus outbreak and tumbling oil prices continued to hit the region’s debt and equity markets.

Saudi government and Aramco 30-year dollar bonds, due in 2049, shed 0.8 cents on the dollar in early trade, Refinitiv data showed. Abu Dhabi, seen as one of the region’s strongest credits, lost 0.5 cents on its 30-year bonds maturing in 2047 in early trade, while Qatar’s 30-year bonds due in 2049 fell 0.7 cents.

Reporting by Yousef Saba; Editing by Alex Richardson

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