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Saudi Arabia hires banks for debut US dollar benchmark sukuk
April 4, 2017 / 2:36 PM / 8 months ago

Saudi Arabia hires banks for debut US dollar benchmark sukuk

LONDON, April 4 (IFR) - The Kingdom of Saudi Arabia has mandated Citigroup, HSBC and JP Morgan as global coordinators to arrange fixed income meetings ahead of a debut US dollar benchmark sukuk offering across five and 10-year maturities, according to a lead.

The meetings will take place in Abu Dhabi, Dubai and London, commencing April 9.

BNP Paribas, Deutsche Bank and NCB Capital, along with the global coordinators, are mandated as joint lead managers and bookrunners for the Reg S/144A trade.

The sovereign is rated A1 by Moody’s and A+ by Fitch. (Reporting by Robert Hogg; editing by Sudip Roy)

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