VOL. XLI

No. 23

8-June-1998

SAUDI ARABIA

Saudi Issues Third Set Of Contractor Bonds

On 1 June the Saudi Government issued contractors with SR6bn ($1.6bn) in bonds withmaturities of between one and four years, according to sources in Riyadh. The exact amountissued is the subject of some speculation, but a senior banker in the Kingdom said thatthe amount was between SR5bn and SR6bn - less than the SR10-15bn adumbrated elsewhere.What is certain is that the SR6bn is split evenly into the four...