Saudi Arabia
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Pricing in the Formosa market is competitive, said one banker -
◆ German and European spending needs rile SSA market ◆ GSE reform in the US, green reform in the EU ◆ Saudi Arabia leads Gulf diversification out of dollars
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An issuer near to the Gulf has proved the value of currency diversification in the last 18 months
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Sovereign showed euro bond funding does not have to be more expensive than dollars
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The kingdom revamped its green finance framework after the original was met with scepticism
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The kingdom is set to be the second GCC sovereign to issue a green bond
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Excluding the first weeks of the last two years, it was the busiest week since early 2023
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The spread over the sovereign could be as little as 10bp-15bp
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Issuer is a vital part of Saudi's mortgage and housing market
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Super-tight trading makes it a difficult buy for some internationals
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The company is a regular face in the sukuk market
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Observers expect the miner's offer will be in big demand
