LONDON (Reuters) – Saudi Arabia’s 2060 Eurobond edged higher on Friday after Crown Prince Mohammed bin Salman was spared U.S. sanctions over the 2018 killing of journalist Jamal Khashoggi.
The April 2060 sovereign issue was up more than 0.5 cent, with some short-term bonds still mostly negative after the Biden administration announced sanctions and visa bans targeting Saudi citizens.
“MBS (Crown Prince Mohammed bin Salman) will avoid sanctions but likely be persona non grata with the Biden administration as long as the king is alive,” said Beth Morrissey, managing partner at Kleiman International Consultants, adding that the bonds were responding to both the non-sanctioning of the crown prince as well as oil prices.
(Reporting by Tom Arnold and Rodrigo Campos; editing by Jonathan Oatis)
