Saudi Arabia keeps firm grip on pricing

摘要

SAUDI ARABIA became the first of the higher-rated Middle East sovereigns to hit the international markets this year, putting price front and centre for its US$5bn dual-tranche offering.The sovereign (A1/-/A) opened books at Treasuries plus the 165bp area for a 12-year benchmark and the 3.75% area for a 40-year benchmark.Bankers and investors saw the starting concession at about 30bp on the 2033s and 25bp-30bp on the 2061s.