The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Saudi Arabia: Out of the gloom

Saudi debt markets are set for a resilient year, with the promise of more to come.

The mood in Saudi Arabia is fearful. The stock market has crashed for the second time in two years. It has fallen to five-year lows and this time the big investors have been hurt. Oil prices have collapsed, along with petrochemicals prices.

But there is good news. Bankers and lawyers in Saudi Arabia have told Euromoney of at least four new local-currency bond or sukuk issuances in the pipeline.

More conservative observers say debt capital market issuance in Saudi Arabia will be equal to or slightly down on last year. This is healthy given the circumstances. One authoritative source reckons Saudi debt capital market issuance this year will be 25% higher than in 2008 at SAR12 billion ($3.2 billion).

Issuance is most likely to be in an Islamic format and in the low hundreds of millions of dollars each time. It will be from blue-chip companies, and privately placed (there is more bureaucracy involved in the public market).

Few will want to list on a stock market so lacking in confidence, although there are some big IPOs waiting.

One reason for the relative health of the debt capital markets in Saudi Arabia is that investors are looking for more stable returns after being burnt on the stock market yet again.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree