Month: October 2016

Fitch rates Saudi bonds at AA

Fitch Ratings has assigned Saudi Arabia’s $5.5bn 2.375 per cent 2021 senior unsecured notes, the$5.5bn 3.25 per cent 2026 senior unsecured notes and $6.5bn 4.5 per cent 2046 notes a final rating of ‘AA-‘. The rating is in line with Saudi…

Iran invites bids for energy projects

Iran will begin taking applications today for an unspecified number of energy projects, the oil ministry’s news agency SHANA reported on Sunday. National Iranian Oil Company (NIOC) said “reputable and eligible companies” should fill the applications for upstream oil and gas…

GCC finance needs to be $560bn

  GCC governments will need financing worth $560bn in 2015-19 as a result of lower oil prices, S&P Global Ratings said in a report published today. “We estimate that, in nominal terms, GCC sovereigns’ combined fiscal deficit will reach $150bn…

Saudi bond issue launched

  The Saudi Arabian government has circulated the prospectus for its planned bond issue and is due to start a roadshow promoting the offering on 12 October that will encompass London, New York, Boston and Los Angeles, It is reported to…

Saudi fertiliser plant sale advances

Two Saudi petrochemical giants have hired investment banks to advise on the potential sale of a stake in the Ibn Al-Baytar fertiliser company. Saudi Arabia Fertilizers Company (Safco) has hired Samba Capital, while Saudi Basic Industries Corporation (Sabic) has chosen…