May 2, 2018 / 1:43 PM / 23 days ago

Saudi debt office head says able to issue up to 100-year bonds, but not keen at moment

DUBAI, May 2 (Reuters) - Saudi Arabia is able to issue 50- or 100-year bonds, but is not keen at the moment to sell debt of such long maturities, the head of its debt management office said on Wednesday.

“Are we able to issue 50, 100 years, yes. Are we able to issue in different currencies other than dollars, yes. Are we keen to take that step at the moment, I don’t think so,” Fahad al-Saif told a business conference in Riyadh.

“We don’t wanna take a step unless it reflects that issuances are mature issuances,” he said.

Among emerging market economies, Argentina last year sold a 100-year bond in U.S. dollars, joining some countries in the euro zone who have taken advantage of a low-yield environment to sell long-dated bonds. (Reporting by Marwa Rashad and Stephen Kalin; Writing by Saeed Azhar; Editing by Ghaida Ghantous)

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