Saudi Arabia issued dollar-denominated bonds in three tranches, with a total value of $12 billion, marking the largest deal for the kingdom since 2017, according to Bloomberg. The demand for the bond issuance exceeded expectations, as investors submitted orders amounting to $30 billion. Saudi Arabia sold bonds with maturities of 6, 10, and 30 years, yielding 4.89%, 5.13%, and 5.91% respectively. The breakdown of the issuance is as follows:
- 12 billion riyals ($3.2 billion) maturing in 2030
- 15 billion riyals ($4 billion) maturing in 2034
- 17 billion riyals ($4.53 billion) maturing in 2054
The Saudi government estimated the budget deficit for 2024 at 79 billion riyals (around $21 billion), compared to a surplus of 16 billion riyals ($4.255 billion) in 2023.
