Saudi Arabia raised $5bn via a dual-tranche sukuk issuance, its first dollar issuance since November last year. It raised:
Proceeds from the issuance would be used for general budgetary purposes and financing a concurrent tender offer. The bonds are rated A1/A (Moody’s/Fitch) The sovereign launched a tender offer to buyback up to $15.5bn of the following bonds:
All the bonds will be bought for cash and the maximum acceptance prices will be determined soon. The bonds were trading almost unchanged. The tender offer deadline is on October 24.