Saudi Arabia starts selling two-part sukuk

Saudi Arabia has started taking bids for two-tranche US dollar denominated Islamic bond or sukuk sales with 5-year and 10-year maturity, fixed income news service IFR reported on Tuesday.

Saudi wealth fund PIF Expects to raise $1.25bn from 7-year sukuk

The indicative price for the 5-year Islamic debt sale has been set at around 95 basis points over US Treasuries, and the 10-year sukuk comes with a initial price of around 105 bps over the same benchmark, IFR said.