October 26, 2017 / 6:54 AM / a year ago

Saudi says it aims to sell more bonds in Asia, avoid speculators

RIYADH, Oct 26 (Reuters) - Saudi Arabia is working to sell more of its international bonds in Asia to secure a diverse, stable investor base, and aims to avoid excessive short-term speculation in the bonds, the head of the kingdom’s debt management office said on Thursday.

Riyadh began issuing international sovereign bonds in October last year and made its third issue last month, selling $12.5 billion of debt.

Fahad al-Saif told a briefing at an investment conference that the kingdom had made good progress in placing its bonds with U.S. and European investors, and was now talking with Asian institutional investors to increase demand there.

He also said Saudi Arabia was distinguishing between long-term, stable investors and those who simply wanted to buy and trade. “We know who the flippers are,” he said. (Reporting by Andrew Torchia; Editing by Toby Chopra)

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