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Stock impact report

Saudi's development fund plans bond debut [Yahoo! Finance]

Air Products and Chemicals, Inc. (APD) 
Last air products and chemicals, inc. earnings: 4/23 06:00 am Check Earnings Report
US:NYSE Investor Relations: airproducts.com
Company Research Source: Yahoo! Finance
Semafor, widening an issuance spree that has already made the kingdom one of the biggest borrowers in emerging markets. While many are focused on the future of Saudi Arabia's giga-projects, the National Development Fund aims to support the kingdom's “economy of today,” Governor Stephen Groff said in an interview. To that end, the fund — which oversees $430 billion across 12 sector-specific funds and banks — is looking to tap capital markets, Groff said, as the kingdom looks to expand private investment in tourism, housing, logistics, and small to medium-sized businesses. NDF has designated a capital markets team, is preparing to obtain a formal credit rating, and could begin issuing bonds within 18 to 24 months, he added. NDF was set up in 2017 to centralize and scale the kingdom's development financing, bringing together legacy financing programs spanning industry, agriculture, and social development. Its launch created new entities for financing infrastructure, cultural projects Show less Read more
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