Saudi Arabia plans to issue potential euro-denominated dual-tranche bonds consisting of a 7-year inaugural green bond and a 12-year bond, subject to market conditions, the fixed income news service IFR reported on Monday.

Last month, Saudi Arabia raised $12 billion from global debt markets in a three-part bond sale, attracting strong investor demand, with proceeds expected to help cover its budget deficit and pay down debt.

The total order book reached around $37 billion, the National Debt Management Center (NDMC) had said in a statement.

Saudi Arabia, the world's top oil exporter, has forecast a fiscal deficit of $27 billion for 2025 as it continues strategic spending on projects linked to Vision 2030, the kingdom's ambitious plan to overhaul the economy.

HSBC, J.P. Morgan and Société Générale will be the global coordinators and joint active bookrunners, while Crédit Agricole CIB and SNB Capital will be joint passive bookrunners, IFR said.

HSBC and J.P. Morgan will also act as joint green structuring agents.

(Reporting by Mohammad Edrees and Abinaya Vijayaraghavan; Editing by Bernadette Baum)