October 19, 2016 / 1:16 PM / a year ago

Saudi Arabia launches US$17.5bn bond offering

LONDON, Oct 19 (IFR) - Saudi Arabia has launched a US$17.5bn bond deal comprising five, 10 and 30-year bonds, according to a lead.

A US$5.5bn five-year note has launched at 135bp over Treasuries, a US$5.5bn 10-year at plus 165bp, and a US$6.5bn 30-year at plus 210bp.

Each note will price at the tight end of guidance, with the five and 30-year bonds coming 25bp inside initial levels. The 10-year will price 20bp inside initial price thoughts.

The total orderbook at the last update was about US$67bn.

The notes are expected to be rated A1 by Moody’s and AA- by Fitch.

Pricing will be later today. Citi, HSBC and JP Morgan are the global coordinators.

Reporting by Sudip Roy, editing by Julian Baker

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