Bloomberg: Saudi Arabia Is Looking for Friends

Saudi Arabia is set fair to bring its first foreign bond sale for a minimum of $10 billion. But, let's face it, $20 billion has a nice ring to it if they can get to that, especially as it would beat Argentina's $16.5 billion in April.

Indicative yields have been posted in the region of 2.60 percent for 5 years (160 basis points over similar maturity U.S. Treasuries), 3.60 percent for 10 years (plus 185 basis points) and 4.85 percent for 30 years (plus 235 basis points, a total steal that will tempt many hedge funds to go long).

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