Saudi Arabia appoints banks for its first dollar-bond sale

According to sources, the Government of Saudi Arabia appointed JPMorgan Chase & Co., HSBC Holdings Plc and Citigroup Inc. to arrange its first international bond sale of atleast $10bn.

The banks would act as the global coordinators on the issue and additional banks would be added later as joint lead arrangers and book-runners on the deal.

Previously in April 2016, the kingdom had issued a $10bn loan, its first in 15 years from a group of U.S., European, Japanese and Chinese banks.

Source: Bloomberg

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