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| 12 September, 2018

Saudi Arabia tightens price guidance for planned $2bln sukuk

Saudi Arabia has tightened the price guidance of a planned sale of $2 billion in public Islamic bonds to 130-135 basis points over mid-swaps

Traders monitor stocks from the trading floor at the Doha Securities Market building in Doha October 19, 2008. Image used for illustrative purpose

Traders monitor stocks from the trading floor at the Doha Securities Market building in Doha October 19, 2008. Image used for illustrative purpose

REUTERS/Fadi Al-Assaad

DUBAI- Saudi Arabia has tightened the price guidance of a planned sale of $2 billion in public Islamic bonds to 130-135 basis points over mid-swaps, a document showed on Wednesday.

The kingdom, acting through the ministry of finance, is marketing the sukuk with Citi, HSBC and JPMorgan working as global coordinators.

The bond issue, expected to price later on Wednesday, was initially marketed with a price guidance of around 145 basis points over mid-swaps. 

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(Reporting by Davide Barbuscia Editing by Matthew Mpoke Bigg) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))