Saudi Arabia mandates banks ahead of international bond issuance

DUBAI - 25 Sep 2017: Saudi Arabia has mandated banks to arrange a series of fixed income investor meetings ahead of a potential international bond issuance, a document issued by one of the banks appointed showed on Monday.

Meetings will start on Monday and a 144a/Regulation S senior unsecured benchmark deal could follow, subject to market conditions, with maturities of five and a half years, 10 and a half years, and 30 years, the document showed.

Benchmark transactions are generally upwards of $500 million. Goldman Sachs International, GIB Capital, HSBC, J.P. Morgan and MUFG have been appointed as joint lead managers and joint bookrunners.