April 11, 2018 / 3:45 PM / 2 months ago

Saudi Arabia completes pricing for $11 billion bond issue

DUBAI, April 11 (Reuters) - Saudi Arabia’s ministry of finance has completed the “successful pricing” of $11 billion in bonds split into three tranches, it said on Wednesday.

The transaction was the kingdom’s third international issuance under its global medium-term note programme. It issued $4.5 billion in seven-year notes, $3 billion in 12-year notes and $3.5 billion in 31-year notes.

Orders went up to $52 billion, the ministry said in a statement. The issuance is expected to settle around April 17.

Its previous two deals under the programme comprised $17.5 billion and $12.5 billion bonds issued in 2016 and 2017 respectively. It also issued $9 billion in international Islamic bonds last year. (Reporting by Davide Barbuscia Editing by David Goodman)

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