0
 

Saudi Arabia: Negative interest rate bond


Issue 1121 - 04 Mar 2021

Saudi Arabia issued €1.5bn ($1.8bn) of bonds to international investors on 24 February, part of which carried a negative interest rate (NIR). Finance minister and acting economy and planning minister Mohammed Al-Jadaan claimed it was the largest tranche of debt issued with a NIR outside the European Union. The debt was divided into a €1bn ($1.2bn) three-year tranche carrying a return of -0.06%, and a €500m, nine-year tranche with an interest rate of less than 1%, in deals handled by the National Debt Management Center, which said the round was more than three times over-subscribed; total orders amounted to more than €5bn.

Want to read more?

Small article

£4

(Access to one 100-400 word article)

Subscribe to Gulf States Newsletter

View subscription options

Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles and set up news alerts.

Register

Want to see more articles like this?

Search our archive or set up custom notifications to be alerted about new content.

Contact us

Jon Marks
Editorial director

Dominic Dudley
Editor

Harry Randle Marsh
Subscriptions and sales

Tel: +44 (0)1424 721667

Have you created a free account?

Sign up for an account to set up news alerts and get free access to our historic archive (1979-2003), articles under 100 words, Gulf States Newsletter View articles and a selection of other samples.

View a selection of Free articles