Riyadh: For the first time in its history, Saudi Arabia issued a state bond in euros.
According to Arab media, the first edition of the state bond in Saudi Arabia was announced yesterday and the target was achieved on the same day in the evening.
According to the report, in this regard, the procedure of European state bonds was adopted. In a single day, a record number of applications from bond buyers were received.
It should be noted that for the first time in its history, the National Center for Public Debt Management in Saudi Arabia has taken advantage of the opportunity to try its luck in the European Euro market. Saudi Arabia has collected 1.5 billion euros from bond buyers.
Bonds offered by Saudi Arabia in two categories. In the first category, three-year bonds were valued at one billion euros. They will be cashed in 2024. They have a negative interest rate of 0.6%.
In the second category, 9-year bonds are estimated at قد 500 million, they will be cashed in 2030, with a profit margin of less than 1%.
According to the report, the Euro edition of Saudi state bonds proved that investors consider the Saudi economy to be stable.
It may be recalled that Saudi Arabia has been issuing bonds in the global market since 2016. This year, the second edition of the bonds has been issued in 2021. Earlier, bonds worth five billion dollars were issued in January.