The demand for Saudi dollar bonds exceeds 3 times the required

The Saudi Ministry of Finance issued $10 billion in bonds in three tranches yesterday.

The pricing of the three tranches of the bonds fell below the indicative price, after receiving more than $35 billion in orders before closing.

The kingdom issued $3.250 billion in five-year bonds at 110 basis points above the price of US Treasury bonds.

As for the second tranche, it was worth $3.5 billion for ten and a half years, at 140 basis points above the US bond rate.

And the third tranche, with three and a quarter billion dollars for 30 years, at 5.5%.