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FINANCIAL NEWS
Saudi Arabia ready to sell its first bonds
21 May 2016
(MENAFN) Saudi Arabia is preparing to sell its first bonds in the global market as it plans foreign financing to plug its budget deficit.
Furthermore, the kingdom sent invitations to banks in order to arrange the sale, while it predicts an issue of a notable amount.
In addition, Saudi Arabia will join other nations from the six-nation Gulf Cooperation Council (GCC) to bridge the USD 900bn fiscal shortage.
Meanwhile, Abu Dhabi raised USD 5bn in a Eurobond sale last month and Qatar is meeting investors this week before another deal.
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