Saudi National Bank Taps Debt Market as Lenders Binge on Bonds
By and Colin Keatinge
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Saudi National Bank is teeing up a dollar-denominated debt sale, continuing a borrowing spree by the kingdom's lenders that are helping finance a $2 trillion economic overhaul.
SNB has mandated banks for a benchmark Tier 2 note with a tenor of 10 years and initial price talk of around 235 basis points over US Treasuries, according to a person familiar with the matter, who asked not to be identified discussing private information.
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