Iran has begun strikes on US military bases; footage shows missiles being launched from the city of Kermanshah.

Saudi Arabia plans to issue two benchmark-size dollar-denominated sukuk, 5-year and 10-year, to raise funding after the economic hit from the conflict with Iran, a source said. Orders exceeded $9bn excluding bookrunners' allocations. Initial price guidance was about 100bps over US Treasuries for the 5-year and about 110bps for the 10-year; final size and pricing could be set Tuesday night. Separate reports say Riyadh is also in preliminary talks on a new loan to raise at least $8bn.

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