RIYADH: Saudi Arabia is able to issue 50 or even 100-year bonds, but its debt office head said on Wednesday he was not keen to do so at the moment, raising concerns about selling debt of such long maturities.
Speaking at a business conference in the Saudi Arabian capital, Fahad Al-Saif said: “Are we able to issue 50, 100 years, yes. Are we able to issue in different currencies other than dollars, yes. Are we keen to take that step at the moment, I don’t think so.”
“We don’t want to take a step unless it reflects that issuances are mature issuances,” he said.
Among emerging market economies, Argentina last year sold a 100-year bond in US dollars, joining some countries in the euro zone who have taken advantage of a low-yield environment to sell long-dated bonds.
Saudi Arabia can issue 100-year bonds, but ‘not keen’ at the moment: Debt office head
Saudi Arabia can issue 100-year bonds, but ‘not keen’ at the moment: Debt office head
- Saudi Arabia is able to issue 50 or even 100-year bonds
- Speaking at a business conference in the Saudi Arabian capital, Fahad Al-Saif said the move was unlikely
India seals $3bn LNG agreement with UAE
- Leaders hold talks to strengthen trade, defense ties
NEW DELHI, DUBAI: India signed a $3 billion deal on Monday to buy liquefied natural gas from the UAE, making it the Gulf country’s top customer, as the leaders of both countries held talks to strengthen trade and defense ties.
The agreement was signed during a very brief two-hour visit to India by UAE President Sheikh Mohammed bin Zayed Al-Nahyan for talks with Indian Prime Minister Narendra Modi.
They pledged to double bilateral trade to $200 billion in six years and form a strategic defense partnership.
Abu Dhabi state firm ADNOC Gas will supply 0.5 million tonnes of LNG a year to India’s Hindustan Petroleum Corp. for 10 years, the companies said.
ADNOC Gas said the agreement brings the total value of its contracts with India to over $20 billion.
“India is now the UAE’s largest customer and a very important part of ADNOC Gas’ LNG strategy,” the company said.
The UAE is India’s third largest trading partner and Sheikh Mohammed was accompanied by a government delegation that included his defense and foreign ministers. The two sides signed a letter of intent to work toward forming a strategic defense partnership, India’s Foreign Secretary Vikram Misri told reporters.
Misri, however, said that the signing of the letter of intent with the UAE does not mean that India will get involved in regional conflicts.
“Our involvement on the defense and security front with a country from the region does not necessarily lead to the conclusion that we will get involved in particular ways in the conflicts of the region,” he said.
