Al-Khobar – Bloomberg stated that most requests from the bonds came from U.S. financial institutions, even though the first release of Saudi International Bonds conditioned that no investors buyers are from the U.S.
Based on the bulletin issued on October 10, the bonds’ release is open for eligible buyers that are non-Americans. The bulletin, which Asharq Al-Awsat received a copy of, stressed that the bonds can’t be sold or traded in the U.S. market whether directly or indirectly and it can’t be sold to any person carrying the U.S. citizenship.
The bulletin also reiterated that the investors should not share the bulletin with anyone, neither should they share their information, such as the email.
Finance analyst and former instructor at King Fahd University Mohammed al-Ramadi told Asharq Al-Awsat that he believes that most investors and buyers from U.S are eligible financial institutions; given that they buy from outside the U.S.
Ramadi said releasing the bonds in Irish market is clear evidence that Saudi Arabia doesn’t want the bonds to be dealt with American investors even though they were issued in U.S. dollars.
Fitch’s Credit Rating for Saudi Arabia’s debut dollar bond has received an expected AA- rating. The rating is roughlyin line with the kingdom’s wider AA- with a negative outlook status from Fitch. While, Moody’s credit rating was last set at A1 with stable outlook.