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Thursday, 7 December 2017

Finance Ministry to hit the road on USD 3-4 bn eurobond at year’s end

The Finance Ministry will reportedly begin its roadshow for January’s USD 3-4 bn USD-denominated eurobond issuance at the end of the December, sources tell Al Mal. They added that the ministry will be trying to list on the Luxembourg stock exchange and are primarily targeting investors in Europe and the US. Sources tell the newspaper to expect heavy global demand for the offering.

…There was no mention on the ministry’s choice of advisor for the transaction. The Finance Ministry had opened the bidding for investment banks interested in managing the issuance last month and would stop taking applications by November. The ministry will take 3-4 weeks to review the banks’ bids. BNP Paribas, Citi, JP Morgan, and NATIXIS were joint bookrunners last time around.

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