Saudi Arabia Talking To Banks About International Bond Sale: Report

Saudi Arabian officials are talking with banks about issuing what would be the country's first international bond sale, according to a Financial Times report Thursday, which cited people familiar with the matter. The plan to raise debt comes as the country has been using foreign exchange reserves for domestic spending in the wake of collapsing oil prices. Saudi Arabia wants the bond sale to take place later this year, the report said, and banks have been asked to indicate their terms for the sale.