Foreign Exchange & Fixed Income

Reuters first to report Saudi Arabia hires Goldman, SocGen for bond meetings in Europe

Reuters first to report Saudi Arabia hires Goldman, SocGen for bond meetings in Europe

Reuters was first to report that Saudi Arabia has mandated Goldman Sachs and Societe Generale to test European investors’ appetite for a euro-denominated bond, which would be its first. The bank mandate shows the kingdom is looking to diversify its funding base, eyeing new markets to fill deficits caused by lower oil prices.