Oljeprisfallet has affected the economy of the producing countries the world over, not least Saudi Arabia who has been forced to prey on the reserves.
In addition to the cut on home turf seeking oljestormakten now new sources of funding.
According to Bloomberg, which refers to not named sources, are planning country to fetch as much as 17,5 billion dollars in its debut in the international bond market.
It corresponds to around 140 billion measured in nok.
Storbank: Opecs oljeavtale can be self-defeating
– I don’t think we will see some big markedsutslag in the european market because of such a novelty. Then it is more important what happens in relation to Saudi Arabia’s oil policy and how they lead the future, ” says analysis supervisor for credit in Danske Bank Markets, Haseeb Syed, to E24.
– This provides investors with an exposure to emerging markets and the return is relatively attractive enough that they choose to go into. For more statslån is the return to zero or negative, ” says Syed.
Aims record
analysis supervisor for credit Haseeb Syed in the Danske Bank
Låneopptaket will be able to surpass Argentina’s obligasjonsutstedelse of 16.5 billion dollars in april, and thus may imply a new record for a country which is considered as an emerging economy.
the Interest should also be high among investors after that Saudi Arabia has marketed the offer in markets ranging from London to New York, received orders amounting to around 67 billion dollars.
In the light of the powerful oljeprisfallet since the autumn of 2014 is the Saudi Arabia has been obliged to cover its rising budget deficit through fremmedfinansiering. It is a pursuit of high returns from investors and then they are also more creative in terms of which instruments they invest in, ” says Syed.
With an oil price that has gone from over 100 per barrel in 2014 to 50 dollars, revenue dwindled into for the powerful OPEC member.
For the six arab golflandene disappeared 340 milliarderdollar in oil revenue spending in 2015, according to The international monetary fund (IMF). Saudi Arabia’s budget deficit was last year at 97 billion usd, the equivalent of 15 percent of the size of the economy.
Saudi-Arabia does not oljeprisoppgang within the new year
Will open up the economy
the Sale of the bonds is the latest in a number of steps to open up the economy. In the long term is the plan to reduce the oljeavhengigheten.
Recently launched Saudi Arabia’s sovereign wealth fund and japanese Softbank giant teknologifond of 100 billion dollars.
Back in april notified the country plans for a oljefond, which should be of 2.000 billion dollars. Also an ipo by Saudi Arabia’s state oil company, Saudi Aramco, is on the drawing board.
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