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Friday, 21 October 2016

Saudi Arabia’s $17.5bn bond sale has lessons for debt market

Saudi Arabia’s $17.5bn bond sale has lessons for debt market:

"Saudi Arabia’s ambitious plan to chart a course away from oil dependence and towards a more diversified economy is off to a flying start — with a blockbuster $17.5bn debut sovereign bond sale.

Investors shrugged off concerns about the prospect of the sustained oil slump translating into years of anaemic growth, aggravating social concerns and a backdrop of regional tensions.

The lure of investing in a large economy with little debt that has never before issued a dollar-denominated bond, piqued global interest. Investor orders reached $67bn, enabling Saudi Arabia to borrow more — and more cheaply — than initially suggested."



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