Saudi Arabia to introduce floating rate bonds -sources

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Saudi Arabia to introduce floating rate bonds -sources

The Saudi Arabian government plans to start issuing floating-rate bonds to encourage local banks to buy its debt as it finances a big budget deficit caused by low oil prices, banking sources said on Thursday. Since last August, the government has been issuing 20 billion riyals ($5.33 billion) of domestic bonds to banks every month to finance the deficit.

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