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Saudi hires banks for first global bond sale

Saudi Arabia has hired JP Morgan, HSBC and Citigroup to help sell its debut international bond, a person familiar with the matter said on Sunday, as the kingdom seeks to shore up its finances hurt by low oil prices.

Saudi hires banks for first global bond sale
Photo: iStockPhoto

Saudi Arabia has hired JP Morgan, HSBC and Citigroup to help sell its debut international bond, a person familiar with the matter said on Sunday, as the kingdom seeks to shore up its finances hurt by low oil prices.

Saudi Arabia has already secured a $10 billion loan from a consortium of international lenders in April and has sold debt to its domestic banks.

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