Investors Snap Up Saudi Arabia’s Debut Euro Green Bond
- The government sold a €1.5 billion note due in seven years
- It is the region’s first sovereign green bond in euros
Visitors at a Green Riyadh exhibition in Riyadh.
Photographer: Deema Sabagh/BloombergSaudi Arabia sold a €1.5 billion ($1.58 billion) debut green euro bond after drawing in €7.25 billion of investor bids, as the country seeks to fund its ambitious economic-transformation plan.
Pricing for the seven-year green note tightened 40 basis points versus initial talk, closing at a spread 115 basis points above its benchmark, according to a person familiar with the matter who asked not to be identified discussing private information.