Saudi Arabia to Sell $7.5 Billion of Bonds in Two Parts

[tacobell fan]

Saudi Arabia set the size of its dual-tranche bond offering at $7.5 billion, according to a person familiar with the matter, who is not authorized to speak publicly and asked not to be identified. The spread on the shorter portion of the deal, a $4 billion 10-year note maturing in April 2029, is 175 basis points over Treasuries, according to the person. The spread on the $3.5 billion, 31-year bond is set at 230 basis points.

The kingdom is tapping the international debt market for the first time since the October killing of journalist Jamal Khashoggi.