June 13, 2019 / 8:10 AM / 4 months ago

GCC bonds weak on news of tankers hit in Gulf of Oman, Aramco bonds down

DUBAI, June 13 (Reuters) - International bonds issued by Gulf Cooperation Council (GCC) governments were down on Thursday after two tankers were hit in suspected attacks in the Gulf of Oman, a month after a similar incident in which four tankers in the region were struck.

Saudi Arabia’s bonds due in 2049 were down over 0.6 cents in early trade while $3 billion in bonds issued by state oil giant Saudi Aramco, also due in 2049 , were down 1 cent on the dollar, according to Eikon Refinitiv data.

Traders said other GCC sovereign bonds were also weak on the news, and regional credit default swaps - which indicate the cost of insuring against a default - were on the rise.

Reporting by Davide Barbuscia; Editing by Janet Lawrence

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