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Saudi Arabia sets size of debut dollar sukuk at $8 billion -sources
April 12, 2017 / 1:01 PM / in 8 months

Saudi Arabia sets size of debut dollar sukuk at $8 billion -sources

DUBAI, April 12 (Reuters) - Saudi Arabia has set the final size of its planned debut international sukuk at $8 billion, split equally between a five-year and a 10-year tranche, sources familiar with the matter said on Wednesday.

The final spreads for the issuance are 100 basis points over mid-swaps for the five-year notes and 140 basis points over mid-swaps for the 10-year.

Initial price guidance, released on Tuesday, put the Islamic bonds at around 115 and 155 bps over mid-swaps, respectively.

Reporting by Davide Barbuscia; editing by Jason Neely

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