Saudi Arabia raises $12B in 3-tranche bond issue: Report

The Kingdom of Saudi Arabia's flag

Saudi Arabia raised $12 billion through a three-tranche bond issuance, with maturities ranging from six to 30 years, Reuters reported.

The Kingdom sold $3.25 billion, $4 billion and $4.75 billion in tenors of six, 10 and 30 years, respectively.

Saudi Arabia generated more than $30 billion in orders, the report said, noting that the purpose is to finance the budget.

The bonds were priced at 90 basis points (bps) over US Treasuries (UST) for the six-year term; 110 bps over UST for the 10-year; and 170 bps for the 30-year term.

Citigroup, HSBC, JP Morgan Securities, and Standard Chartered Bank were mandated global coordinators and joint bookrunners for the issue, with Bank of China, Mizuho International, SMBC Nikko and SNB Capital acting as bookrunners.