Saudi Arabia Returns to Eurobond Market as Gulf Tensions Ease

Saudi Arabia Returns to Eurobond Market as Gulf Tensions Ease

(Bloomberg) -Saudi Arabia is set to issue its first Eurobond of the year as tensions in the Middle East over the U.S.'s assassination of Iranian commander Qassem Soleimani ease.. Treasuries for a seven-year offering, 135 basis points for a 12-year security and 180 basis points for a 35-year bond, which will be Saudi Arabia's longest .. Saudi Arabia's sovereign dollar bonds have gained 0.6% in 2020, more than those of any other country in the Gulf Cooperation Council.. There's a "wall of cash that investors need to put to work" and Saudi Arabia "ticks all the boxes," he said.. Saudi Arabia last sold Eurobonds in October, when it raised a $2.5 billion sukuk.. It issued $13.4 billion of euro and dollar bonds last year, more than any other emerging market aside from Turkey, according to data compiled by Bloomberg..