China mandates banks for $2 bln bond issuance in Saudi Arabia, term sheet shows
Adds deal value, Ministry of Finance statement in third paragraph
SYDNEY, Nov 8 (Reuters) -China has mandated investment banks to work on a three- and five-year U.S. dollar bond issuance in Saudi Arabia, showed a term sheet reviewed by Reuters on Friday.
The issuance will be senior, unsecured fixed-rate bonds, subject to market conditions, the term sheet showed.
China's Ministry of Finance said earlier this week it would issue bonds worth no more than $2 billion in Saudi Arabia after receiving approval from the State Council.
Reporting by Scott Murdoch; Editing by Jacqueline Wong and Christopher Cushing
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